Wesco Aircraft Holdings Earnings: Here’s Why Investors are Happy Now
Wesco Aircraft Holdings Inc (NYSE:WAIR) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 0.14%.
Wesco Aircraft Holdings Inc Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 50% to $0.33 in the quarter versus EPS of $0.22 in the year-earlier quarter.
Revenue: Rose 24.03% to $225.9 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Wesco Aircraft Holdings Inc reported adjusted EPS income of $0.33 per share. By that measure, the company beat the mean analyst estimate of $0.27. It beat the average revenue estimate of $214 million.
Quoting Management: Wesco Aircraft’s Chairman, President and Chief Executive Officer, Randy Snyder said, “Our first half of the year results were very strong relative to last year and we are ahead of our expectations as well. In addition, we continue to experience high levels of activity in bookings, scope additions to our existing contracts, and contract signings with new customers. This activity adds to our confidence for the rest of the year and fuels our optimism for the future. The Interfast integration continues to go well. Our entry into the MRO market space and the roll out of our MRO e-Commerce platform has been well received. None of this would be possible without our strong customer relationships, the support of our suppliers and the dedicated efforts of the best employees in the business.”
Key Stats (on next page)…
Revenue increased 6.98% from $211.17 million in the previous quarter. EPS increased 32% from $0.25 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 $0.3 and has not changed. For the current year, the average estimate has moved down from a profit of $1.16 to a profit of $1.15 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)