Cubic Corp. (CUB) Misses Q3 EPS by 12c, Guidance Falls Short

Cubic Corp. (NYSE: CUB) reported Q3 EPS of $0.17, $0.12 worse than the analyst estimate of $0.29. Revenue for the quarter came in at $375.2 million versus the consensus estimate of $387.41 million.

“We are pleased with this quarter’s financial performance. Sales, Adjusted EBIDTA and operating cash flow improved significantly over the third quarter last year. We continue to expect a strong fourth quarter due to many shipments of higher margin products in Defense Systems, which will lead to better financial performance compared to last fiscal year,” said Bradley H. Feldmann, president and chief executive officer of Cubic Corporation. “We are making great progress with our One Cubic ERP system implementation and the integration of our recent acquisitions. We see opportunity to grow the company - unparalleled in Cubic’s recent history - particularly in Defense Systems and Transportation, leading to expected record financial performance in fiscal year 2017 and beyond.”

GUIDANCE:

Cubic Corp. sees FY2016 EPS of $0.85-$1.00, versus the consensus of $1.25. Cubic Corp. sees FY2016 revenue of $1.51-1.56 billion, versus the consensus of $1.52 billion.

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

You May Also Be Interested In

• AeroVironment restates quarterly financials, citing $89M goodwill error
• Middleby board approves spin-off of food processing unit Midera
• Goldman reinstates Estee Lauder rating, sees turnaround driving growth and margins