Goodrich Corp Earnings Cheat Sheet: Double-Digit Growth Again

S&P 500 (NYSE:SPY) component Goodrich Corporation (NYSE:GR) reported its results for the third quarter. Goodrich supplies aerospace components, systems and services to the commercial and general aviation airplane markets as well as the global defense and space markets.

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Goodrich Earnings Cheat Sheet for the Third Quarter

Results: Net income for the aerospace/defense products and services company rose to $201.1 million ($1.57 per share) vs. $160.2 million ($1.25 per share) in the same quarter a year earlier. This marks a rise of 25.5% from the year earlier quarter.

Revenue: Rose 16.3% to $2.03 billion from the year earlier quarter.

Actual vs. Wall St. Expectations: GR beat the mean analyst estimate of $1.50 per share. Analysts were expecting revenue of $2.07 billion.

Quoting Management: Commenting on the company’s performance and its outlook, Marshall Larsen, Chairman, President and Chief Executive Officer said, “Our company continued its track record of strong performance. Excellent execution and strong customer demand drove segment operating margins of 19.3 percent and overall sales growth of 16 percent, compared to the third quarter last year.”

Key Stats:

The company has now seen net income rise in three straight quarters. In the second quarter, net income rose 11.1% and in the first quarter, the figure rose 75.2%.

The company has now topped analyst estimates for the last four quarters. It beat the mark by 18 cents in the second quarter, by 11 cents in the first quarter, and by 8 cents in the fourth quarter of the last fiscal year.

Revenue has risen the past four quarters. Revenue increased 16.5% to $2 billion in the second quarter. The figure rose 11.8% in the first quarter from the year earlier and climbed 10% in the fourth quarter of the last fiscal year from the year-ago quarter.

Margins rose in the second quarter after falling the quarter before. Gross margin rose 1.5 percentage points to 32.5% from the quarter earlier quarter. In the first quarter, the figure rose 0.9 percentage point to 30.8% from the year earlier quarter.

Looking Forward: Expectations for the company’s next quarter performance are higher than they were ninety days ago. Over the past three months, the average estimate for the fourth quarter has risen to $1.58 per share from $1.57. Over the past sixty days, the average estimate for the fiscal year has reached $5.99 abs per share, a decline from $6.

Competitors to Watch: Honeywell Intl. Inc. (NYSE:HON), Triumph Group, Inc. (NYSE:TGI), Esterline Tech. Corp. (NYSE:ESL), United Technologies Corp. (NYSE:UTX), HEICO Corporation (NYSE:HEI), The Boeing Company (NYSE:BA), EDAC Technologies Corp. (NASDAQ:EDAC), SIFCO Industries, Inc. (AMEX:SIF), Kreisler Manufacturing Corp. (KRSL), and Breeze-Eastern Corporation (AMEX:BZC).

Investing Insights: Here’s Why Chipotle’s Stock Keeps Winning.

(Source: Xignite Financials)