FLIR Systems Earnings: Here’s Why the Stock is Rising Now
FLIR Systems, Inc. (NASDAQ:FLIR) delivered a profit and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 9.73%.
FLIR Systems, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 29.63% to $0.35 in the quarter versus EPS of $0.27 in the year-earlier quarter.
Revenue: Rose 15.08% to $389.3 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: FLIR Systems, Inc. reported adjusted EPS income of $0.35 per share. By that measure, the company missed the mean analyst estimate of $0.36. It beat the average revenue estimate of $365.29 million.
Quoting Management: “We saw solid growth in revenue, operating income, cash flow, and earnings per share in the second quarter, and increased backlog in both divisions,” noted Andy Teich, President and CEO of FLIR. “We introduced several new products during the quarter, with more on the horizon. I am very excited about our future given our market presence, product suite, and ability to execute for our customers and our shareholders.”
Key Stats (on next page)…
Revenue increased 11.68% from $348.58 million in the previous quarter. EPS decreased 0% from $0.35 in the previous quarter.
Looking Forward: Analysts have a neutral outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings is a profit of $0.39 and has not changed. For the current year, the average estimate has moved down from a profit of $1.64 to a profit of $1.61 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)