Kaman (KAMN) Misses Q1 EPS by 20c

Kaman (NYSE: KAMN) reported Q1 EPS of $0.15, $0.20 worse than the analyst estimate of $0.35. Revenue for the quarter came in at $158 million versus the consensus estimate of $178 million.

Outlook:

"Year to date, we have seen robust demand for Kaman's products with meaningful growth in our seals, springs and contacts products in our Engineered Products segment. This strength in order activity gives us confidence in the improvement we expect to see in our end markets in 2022. In our Precision Products segment, we are managing our programs with a focus on securing additional Joint Programmable Fuze DCS orders. In our Structures segment, we will continue to apply lean initiatives and reduce costs while seeking to expand into more profitable, complex structures programs. Over the course of the year, we expect to see improved performance for the company from product mix changes, timing of sales and a continued focus on operations excellence. As such, we are maintaining our full year guidance for 2022."

"Kaman is well placed with a highly capable leadership team and is committed to organic growth through new product innovation. In addition to investments in our products, we remain focused on adding new, more profitable businesses by leveraging our strong balance sheet. As we look for both organic and inorganic growth opportunities, we will be disciplined in our approach to capital allocation, making the right investments for our company," Walsh said.

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

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