Kaman (KAMN) Misses Q4 EPS by 9c

Kaman (NYSE: KAMN) reported Q4 EPS of $0.69, $0.09 worse than the analyst estimate of $0.78. Revenue for the quarter came in at $452.3 million versus the consensus estimate of $468.96 million.

Our 2016 outlook is as follows:

• Distribution:
  • Sales of $1,125.0 million to $1,165.0 million
  • Operating margin of 4.4% to 4.6%
  • Adjusted EBITDA* margin 5.8% to 6.0%

• Aerospace:
  • Sales of $700.0 million to $720.0 million
  • Operating margin of 17.5% to 17.8%, or 18.3% to 18.6% when adjusted for $5.5 million of integration costs in 2016 associated with the 2015 acquisitions
  • Adjusted EBITDA* margin 21.8% to 22.0%
• Interest expense of approximately $16.0 million
• Corporate expenses of approximately $55.0 million
• Estimated annualized tax rate of approximately 34.5%
• Depreciation and amortization expense of approximately $45.0 million
• Capital expenditures of $30.0 million to $40.0 million
• Free cash flow* in the range of $50.0 million to $60.0 million

For earnings history and earnings-related data on Kaman (KAMN) click here.

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