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- Reports Q3 (Sep) earnings of $0.37 per share, $0.02 worse than the S&P Capital IQ Consensus of $0.39; revenues rose 17.4% year/year to $1.02 bln vs the $1 bln S&P Capital IQ Consensus.
- Outlook: "In the HPMC segment, we expect continued year-over-year revenue and operating profit growth in the fourth quarter 2018 resulting from ongoing aerospace market demand growth and improved asset utilization. We reiterate our guidance for a full year 2018 segment operating profit margin improvement of approximately 300 basis points compared to 2017...In the FRP segment, significant price declines in several key raw materials are expected to result in weaker fourth quarter 2018 results due to the short-term mismatch between input costs and the surcharge index pricing mechanism. We anticipate our U.S. Operations to remain profitable in the fourth quarter despite these higher input costs."
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