Precision Castparts First Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component Precision Castparts (NYSE:PCP) will unveil its latest earnings on Thursday, July 26, 2012. Precision Castparts manufactures complex metal components and products and provides investment castings, forgings, and fastener systems for aerospace and industrial gas turbine applications.

Precision Castparts Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for profit of $2.36 per share, a rise of 19.8% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved up from $2.32. Between one and three months ago, the average estimate moved up. It has been unchanged at $2.36 during the last month. Analysts are projecting profit to rise by 20% compared to last year’s $10.10.

Past Earnings Performance: The company beat estimates last quarter after falling short in the prior two. In the fourth quarter of the last fiscal year, the company reported net income of $2.28 per share versus a mean estimate of profit of $2.27 per share. In the third quarter of the last fiscal year, the company missed estimates by 9 cents.

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A Look Back: In the fourth quarter of the last fiscal year, profit rose 24% to $336.1 million ($2.30 a share) from $271 million ($1.87 a share) the year earlier, exceeding analyst expectations. Revenue rose 15.4% to $1.93 billion from $1.67 billion.

Wall St. Revenue Expectations: On average, analysts predict $2.01 billion in revenue this quarter, a rise of 19.6% from the year-ago quarter. Analysts are forecasting total revenue of $8.46 billion for the year, a rise of 17.3% from last year’s revenue of $7.21 billion.

Stock Price Performance: Between April 25, 2012 and July 20, 2012, the stock price fell $9.78 (-5.6%), from $174.80 to $165.02. The stock price saw one of its best stretches over the last year between December 19, 2011 and December 27, 2011, when shares rose for six straight days, increasing 6.2% (+$9.69) over that span. It saw one of its worst periods between May 2, 2012 and May 10, 2012 when shares fell for seven straight days, dropping 5.6% (-$10.03) over that span.

Key Stats:

On the top line, the company is looking to build on two-straight revenue increases with this earnings announcement. Revenue rose 14.2% in the third quarter of the last fiscal year before climbing again in the fourth quarter of the last fiscal year of the last fiscal year.

Analyst Ratings: With 12 analysts rating the stock as a buy, none rating it as a sell and six rating it as a hold, there are indications of a bullish outlook.

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(Company fundamentals by Xignite Financials. Earnings estimates provided by Zacks)

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