Wesco Aircraft Holdings (NYSE: WAIR) reported Q2 EPS of $0.22, $0.05 better than the analyst estimate of $0.17. Revenue for the quarter came in at $390.2 million versus the consensus estimate of $374.66 million.

Fiscal 2018 Second Quarter Highlights

• Net sales of $390.2 million, up 7.0 percent
• Net income of $15.0 million, or $0.15 per diluted share
• Adjusted net income(1) of $22.2 million, or $0.22 per diluted share
• Adjusted earnings before interest, taxes, depreciation and amortization(1) (EBITDA) of $45.0 million, or 11.5 percent of net sales

Todd Renehan, chief executive officer, said, “Progress on Wesco’s improvement initiatives has driven better operating and financial performance for the second quarter in a row, a testament to the hard work of our people and ongoing support of our customers. We reported solid sales growth in the quarter, with increases in both ad-hoc sales and long-term contracts. We also continued to win new business and renew long-term contracts, reflecting our robust value proposition. We maintained our focus on selling, general and administrative expenses in the quarter; apart from consulting costs incurred to support Wesco 2020, expenses were consistent with the previous quarter.

“While I’m pleased with the progress made in our performance so far this year, we still have gaps in our execution. We launched Wesco 2020 in the fiscal 2018 second quarter to address these gaps and deliver stronger results. In addition, the significant financial benefits expected through Wesco 2020 will allow us to invest in the capabilities we need to continue supporting our customers and deliver long-term value to shareholders. Ultimately, we believe Wesco 2020 will enable the company to maintain high levels of service excellence, manage inventory more effectively and leverage our infrastructure to support profitable growth.”

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