Wesco Aircraft Holdings (WAIR) Misses Q4 EPS by 3c, Revenues Beat

Wesco Aircraft Holdings (NYSE: WAIR) reported Q4 EPS of $0.18, $0.03 worse than the analyst estimate of $0.21. Revenue for the quarter came in at $406.8 million versus the consensus estimate of $377.97 million.

• Net sales of $406.8 million, up 12.5 percent
• Net income of $7.3 million, or $0.07 per diluted share
• Adjusted net income(1) of $18.2 million, or $0.18 per diluted share
• Adjusted earnings before interest, taxes, depreciation and amortization(1) (EBITDA) of $36.7 million, or 9.0 percent of net sales

Todd Renehan, chief executive officer, commented, “Net sales in the fourth quarter increased at a robust pace, reflecting continued positive aerospace market conditions and greater demand for supply chain services. At the same time, we maintained control over ongoing operating expenses as we proceeded deeper into Wesco 2020 execution. We also significantly reduced our inventory investment in the fourth quarter compared to last year, which helped drive positive cash flow from operations in the quarter and fiscal year.

“The stronger operational and financial performance we achieved in fiscal 2018 established a baseline that we intend to sustain and improve upon in fiscal 2019 while making more foundational changes to the business through our Wesco 2020 initiatives. As previously disclosed, we expect Wesco 2020 to generate significant run-rate benefits, with realization in fiscal 2019 to be partially offset by implementation costs. We anticipate full realization of Wesco 2020 benefits to be achieved in fiscal 2020.”

For earnings history and earnings-related data on Wesco Aircraft Holdings (WAIR) click here.

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