Wesco Aircraft Holdings Earnings: Here’s Why Investors Will Like This Data
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 down 1.92%.
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Wesco Aircraft Holdings Inc Earnings Cheat Sheet
Results: Net income increased to $27.4 million ($0.29 per diluted share) in the quarter versus a net gain of $18.03 million in the year-earlier quarter.
Revenue: Rose 16.91% to $212 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Wesco Aircraft Holdings Inc reported adjusted net income of $27 per share. By that measure, the company beat the mean analyst estimate of $0.24. It beat the average revenue estimate of $201.58 million.
Quoting Management: Randy Snyder, Wescos Chairman, President, and Chief Executive Officer said, “We are very pleased with our performance during the past quarter. We continue to increase the scope of our customer contracts and, operationally, we are increasing our productivity. The integration of our recent acquisition, Interfast, is ahead of expectations and we are already gaining some of the anticipated benefits, including expanded customer relationships and more effective purchasing. I am very excited about our opportunities in the coming year.”
Revenue increased 11.96% from $189.35 million in the previous quarter. Net income increased over 20% from $22.29 million 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 $0.29 and has not changed. For the current year, the average estimate is a profit of $0.94, which is the same with that ninety days ago.
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(Company fundamentals provided by Xignite Financials.)
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