Kaman (KAMN) Tops Q3 EPS by 4c; Update FY16 Outlook

Kaman (NYSE: KAMN) reported Q3 EPS of $0.64, $0.04 better than the analyst estimate of $0.60. Revenue for the quarter came in at $453.5 million versus the consensus estimate of $451.03 million.

2016 Outlook

Our revised 2016 outlook is as follows:

• Distribution:
  • Sales of $1,110.0 million to $1,120.0 million
  • Operating margins of 4.3% to 4.4%
  • Depreciation and amortization expense of $16.5 million

• Aerospace:
  • Sales of $700.0 million to $710.0 million
  • Operating margins of 16.4% to 16.6%, or Adjusted operating margin* of 17.2% to 17.4%, when adjusted for $5.5 million of transaction and integration costs in 2016 associated with the 2015 acquisitions
  • Depreciation and amortization expense of $24.5 million
• Interest expense of approximately $16.0 million
• Corporate expenses of approximately $52.0 million
• Estimated annualized tax rate of approximately 34.5%
• Consolidated depreciation and amortization expense of approximately $45.0 million
• Capital expenditures of $30.0 million to $35.0 million
• Cash flows from operations in the range of $85.0 million to $100.0 million; Free Cash Flow* in the range of $55.0 million to $65.0 million

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

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