Wesco Aircraft Holdings (WAIR) Misses Q4 EPS by 10c, Slight Miss on Revenues

Wesco Aircraft Holdings (NYSE: WAIR) reported Q4 EPS of $0.08, $0.10 worse than the analyst estimate of $0.18. Revenue for the quarter came in at $361.6 million versus the consensus estimate of $363.2 million.

Fiscal 2017 Fourth Quarter Highlights

• Net sales were $361.6 million, down 1.1 percent
• Net loss was $38.3 million, or $0.39 per diluted share, reflecting a $37.5 million non-cash tax charge on accumulated foreign earnings and other items(1), which together had an impact of $46.7 million, or $0.47 per diluted share
• Adjusted earnings before interest, taxes, depreciation and amortization(1) (EBITDA) were $30.4 million, or 8.4 percent of net sales

Fiscal 2018 Outlook

The company is targeting a low single-digit percentage increase in net sales year-over-year in fiscal 2018, primarily based on the ramp up of new business and growth in ad-hoc sales, partially offset by volume declines on existing contracts. The company also targets a low double-digit percentage increase in adjusted EBITDA year-over-year in fiscal 2018, primarily based on higher sales and gross margin and stable SG&A as a percent of sales.

The company expects its operational metrics to gain traction throughout the year, leading to a better second half than first half of fiscal 2018. As a result, the company expects to exit the year at an adjusted EBITDA margin run-rate of more than 10 percent.

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

You May Also Be Interested In

• Midday movers: Novavax, Nvidia, Sweetgreen rise; Moderna, Yelp fall
• Victoria's Secret (VSCO) shares jump on positive Q1 earnings preannouncement
• Hawaiian Electric Industries (HE) Misses Q1 EPS by 3c