CIRCOR International Earnings: Here’s Why Shares are Up Now
CIRCOR International, Inc. (NYSE:CIR) 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 1.53%.
CIRCOR International, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 6.12% to $0.52 in the quarter versus EPS of $0.49 in the year-earlier quarter.
Revenue: Decreased 4.14% to $205.4 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: CIRCOR International, Inc. reported adjusted EPS income of $0.52 per share. By that measure, the company beat the mean analyst estimate of $0.51. It beat the average revenue estimate of $204.22 million.
Quoting Management: “CIRCOR began the year achieving both revenue and adjusted EPS at the high end of our Q1 guidance ranges,” said Scott Buckhout, CIRCOR’s President and Chief Executive Officer. “Our focus on improving operating results and expanding margins led to a 6% year-over-year increase in adjusted EPS and a 70 basis point improvement in adjusted operating margins.”
Key Stats (on next page)…