Graham (NYSE: GHM) reported Q1 EPS of $0.24, $0.02 better than the analyst estimate of $0.22. Revenue for the quarter came in at $29.55 million versus the consensus estimate of $27.49 million.

• Revenue and earnings grow as core markets recover
• Net income of $2.3 million, $0.24 per share, vs. $0.9 million, or $0.10 per share, in prior year
• Orders were $22 million, backlog remains strong at $115 million
• Increasing fiscal 2019 revenue expectations to $95 million to $105 million

Mr. Lines concluded, “Our order activity during the quarter, particularly in the chemical/petrochemical market, gave us reason to increase our revenue outlook for fiscal 2019. We now expect revenue growth between 23% and 35% over our cycle trough in fiscal 2018. Additionally, we continue to build a strong pipeline of bids. Even though order timing remains unpredictable, we are encouraged as fiscal 2019 progresses and as we begin to look towards fiscal 2020.”

GUIDANCE:

Graham sees FY2019 revenue of $95-105 million, versus the consensus of $99.23 million.

For earnings history and earnings-related data on Graham (GHM) click here.