CIRCOR (CIR) Tops Q4 EPS by 3c, Offers Guidance

CIRCOR (NYSE: CIR) reported Q4 EPS of $0.66, $0.03 better than the analyst estimate of $0.63. Revenue for the quarter came in at $208 million versus the consensus estimate of $207.57 million.

GUIDANCE:

CIRCOR sees FY2021 EPS of $2.00-$2.20, versus the consensus of $2.35.

• For the full year of 2021, CIRCOR expects organic revenue growth in the range of 0 to 4%, with low to mid-single digit growth in Aerospace and Defense and low-single digit growth in Industrial. Adjusted EPS is expected to be in the range of $2.00 to $2.20 driven by increased sales volume and improved operating margins. CIRCOR also expects its adjusted net income to free cash flow conversion to be 85% - 95%. Free cash flow generated in 2021 will be used to deleverage CIRCOR, and the company continues to target a net debt to adjusted EBITDA ratio of 2.0x to 2.5x. Presentation slides that provide supporting information to this guidance and fourth-quarter and year-end results are posted on the “Investors” section of the Company’s website and will be discussed during the conference call at 9:00 a.m. ET today.

For earnings history and earnings-related data on CIRCOR (CIR) click here.

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