Cubic Corp. (NYSE: CUB) reported Q4 EPS of $2.82, $0.78 better than the analyst estimate of $2.04. Revenue for the quarter came in at $475.4 million versus the consensus estimate of $479.62 million.

Fiscal Fourth Quarter 2020 Highlights

• Record sales of $475.4 million, up 1% year-over-year
• Net income from continuing operations attributable to Cubic of $57.0 million, or $1.82 per share, compared to $41.6 million, or $1.33 per share, in the fourth quarter of fiscal 2019
• Adjusted earnings per share of $2.82, up 52% year-over-year
• Record fourth quarter Adjusted EBITDA of $104.2 million, up 36% year-over-year
• Net cash from operating activities of $95.1 million; Adjusted Free Cash Flow of $87.5 million
• Combined Cubic’s two defense business segments to drive customer value, operational effectiveness and cost savings

“We ended the fiscal year on a strong note, delivering record fourth quarter Sales and Adjusted EBITDA and strong Adjusted Free Cash Flow,” said Bradley H. Feldmann, chairman, president and chief executive officer of Cubic Corporation. “We are grateful to our customers for their trust and to our employees for their unwavering commitment to delivering innovative, mission critical solutions, while safeguarding the well-being of their fellow CUBES. We are excited about the future as we embark on our recently announced NextCUBIC strategy, which we expect will drive strong organic sales growth and increase Adjusted EBITDA margins and return on invested capital to the mid-teens by fiscal 2025.”

GUIDANCE:

Cubic Corp. sees FY2021 EPS of $3.00-$3.60, versus the consensus of $3.24. Cubic Corp. sees FY2021 revenue of $1.55-1.6 billion, versus the consensus of $1.54 billion.

For earnings history and earnings-related data on Cubic Corp. (CUB) click here.