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Thursday, Jun 8, 2023

Briefs: DineEquity, Capstone

Capstone Turbine Corp. reported Monday strong revenue growth in its fiscal third quarter but barely missed Wall Street expectations. The Chatsworth maker of small turbines reported a net loss of $2.2 million (-1 cent a share) in the quarter ended Dec. 31, compared with a net loss of $3.9 million (-1 cent) for the same quarter a year earlier. Revenue rose 11 percent to $37 million. Analysts had expected the company to lose 1 cent on revenue of more $40 million, according to Thomson Financial Network. Investor confidence in the stock has been strong as it jumped more than 50 percent last year and more than 20 percent last month. In January the firm received orders for some of its micro turbines from Horizon Power Systems. The company is Capstone’s distributor for turbines used in oil and gas production in the United States and Canada. The current order is for wells in the Permian Basin in west Texas and southeastern New Mexico. “These strong results reflect the success that we are having in penetrating our key markets such as oil and gas and critical power supply while simultaneously managing costs,” said Capstone Chief Executive Darren Jamison in a statement. Shares closed up 6 cents, or nearly 4 percent, to $1.64 on the Nasdaq. Shares of DineEquity Inc. saw a modest bump Monday after the stock was upgraded by an analyst for Raymond James Financial Inc. Analyst Bryan C. Elliott upgraded the Glendale company from outperform to strong buy, but kept its price target at $95. Elliott expects the company, which runs both the IHOP and Applebee’s restaurant chains, will have a dividend growth of 10 to 15 percent and that the company would have free cash to pay down debt. DineEquity shares closed up $2.13, or about 2.7 percent to $80.50 on the New York Stock Exchange.

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