Esterline Technologies Earnings: Everything You Must Know Now
Esterline Technologies Corp. (NYSE:ESL) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.
Esterline Technologies Corp. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 5.48% to $0.69 in the quarter versus EPS of $0.73 in the year-earlier quarter.
Revenue: Decreased 2.74% to $458 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Esterline Technologies Corp. reported adjusted EPS income of $0.69 per share. By that measure, the company beat the mean analyst estimate of $0.64. It missed the average revenue estimate of $467.07 million.
Quoting Management: Brad Lawrence, Esterline’s Chief Executive Officer, said the company posted, “…a solid quarter—somewhat better than expected.” Looking forward, Lawrence said he would expect the current uncertainty surrounding U.S. defense spending to “…dampen our second quarter a bit,” but reiterated the company’s fiscal 2013 earnings per diluted share guidance of $5.45 – $5.80, saying, “…there is still a lot of the year left to cover and our full-year revenues in the $2.1 billion range continue to look solid.” He said, “…at this point we believe we are right where we need to be.”
Key Stats (on next page)…