Precision Castparts Corp First Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component Precision Castparts Corp (NYSE:PCP) will unveil its latest earnings on Monday, July 18, 2011. Precision Castparts Corp. manufactures complex metal components and products and provides investment castings, forgings and fasteners/fastener systems for aerospace and industrial gas turbine applications.

PRECISION CASTPARTS CORP Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for profit of $1.94 per share, a rise of 17.6% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved down from $1.98. Between one and three months ago, the average estimate moved down and dropped from $1.95 during the last month. For the year, analysts are projecting net income of $8.46 per share, a rise of 20.7% from last year.

Past Earnings Performance: The company missed estimates last quarter after beating forecasts in the prior two. In the fourth quarter of the last fiscal year, the company reported profit of $1.87 per share versus a mean estimate of net income of $1.91 per share. In third quarter of the last fiscal year, the company beat estimates by one cent.

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Wall St. Revenue Expectations: On average, analysts predict $1.69 billion in revenue this quarter, a rise of 16.6% from the year ago quarter. Analysts are forecasting total revenue of $7.14 billion for the year, a rise of 14.8% from last year’s revenue of $6.22 billion.

Analyst Ratings: Analysts are bullish on this stock with 14 analysts rating it as a buy, none rating it as a sell and five rating it as a hold.

Key Stats:

The company has now seen net income rise in three straight quarters. In the fourth quarter of the last fiscal year, net income rose 12.4% while it rose 10.1% in the third quarter of the last fiscal year and 21.1% in the second quarter of the last fiscal year.

Revenue has risen the past four quarters. Revenue increased 16.4% to $1.67 billion in fourth quarter of the last fiscal year. The figure rose 15.8% in the third quarter of the last fiscal year from the year earlier, climbed 15.8% in the second quarter of the last fiscal year from the year-ago quarter and 4.9% in the first quarter of the last fiscal year.

Competitors to Watch: MS International plc (NYSE:MSI), Ladish Co., Inc. (NASDAQ:LDSH), Alcoa Inc. (NYSE:AA), Haynes International, Inc. (NASDAQ:HAYN), Allegheny Tech. Inc. (NYSE:ATI), Chicago Rivet & Machine Co. (AMEX:CVR), United Technologies Corp. (NYSE:UTX).

Stock Price Performance: During April 14, 2011 to July 12, 2011, the stock price had risen $18.71 (13.2%) from $142.21 to $160.92. The stock price saw one of its best stretches over the last year between February 14, 2011, and February 24, 2011, when shares rose for eight-straight days, rising 7.9% (+$11.01) over that span. It saw one of its worst periods between June 24, 2011, and July 6, 2011, when shares fell for eight-straight days, falling 9.5% (-$16.22) over that span. Shares are up $21.77 (+15.6%) year to date.

(Source: Xignite Financials)

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