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Wesco Falls Short of 1Q Forecasts

Wesco Aircraft Holdings Inc. fell short of analyst forecasts for revenue and earnings per share for the first quarter. The Valencia-based supply chain management services company for the aerospace industry reported net income of $18.4 million (19 cents a share) for the quarter ending Dec. 31 compared with $23.2 million (24 cents) in the same period a year earlier. Revenue rose 9.7 percent to $211.2 million. Analysts forecast earnings of 27 cents a share on revenue of $216 million, according to Thomson Financial Network. The first quarter results give the company confidence of achieving the full year guidance for sales and earnings per share, said Wesco President and Chief Executive Randy Snyder. Guidance for the year is revenue between $865 and $890 million and earnings per share of $1.14 to $1.19. “We are experiencing high levels of activity in bookings, additions to our current contracts, and contract signings with new customers, which adds to our optimism for the rest of the year and beyond,” Snyder said in a prepared statement. Shares of Wesco closed at $13.51, up 3 cents or less than 1 percent on the New York Stock Exchange.

Mark Madler
Mark Madler
Mark R. Madler covers aviation & aerospace, manufacturing, technology, automotive & transportation, media & entertainment and the Antelope Valley. He joined the company in February 2006. Madler previously worked as a reporter for the Burbank Leader. Before that, he was a reporter for the City News Bureau of Chicago and several daily newspapers in the suburban Chicago area. He has a bachelor’s of science degree in journalism from the University of Illinois, Urbana-Champaign.

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