Mercury Systems (MRCY) Misses Q2 EPS by 49c
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Mercury Systems (MRCY) plunges as revenue hit by program cost growth
February 7, 2024 8:19 AM ESTMercury Systems (NASDAQ: MRCY) shares plunged more than 15% premarket Wednesday after the company's latest quarterly results missed consensus expectations, while guidance
MRCY posted a second-quarter loss per share of ($0.42), $0.49 worse than the analyst estimate of $0.07. Revenue for the quarter came in at $197.5 million versus the consensus estimate of $212.83 million.
The company also reported total bookings for the second quarter of $325.4 million, yielding a book-to-bill ratio of 1.65.
Chief executive Bill Ballhaus said the second quarter of the "transitional year" saw the company focus on the two dynamics in the business they believe... More
