With operations in more than 900 locations across 50 countries serving diversified end markets, Tyco International Ltd. is the world's largest pure-play fire protection and security firm. The company fills an incredibly wide range of needs for businesses, governments, commercial industries, educational and medical institutions, with a portfolio of leading brand names for products and services under all its operating segments.
However, TYC’s business strategy hinges on acquiring complementary companies that consume significant resources and entail huge integration costs. In the last four trailing quarters, TYC has managed to beat the earnings twice in the last four trailing quarters with a positive average earnings surprise of 1.95%.
Currently, TYC has a Zacks Rank #2 (Buy), but that could definitely change following the third-quarter fiscal 2016 earnings report, which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: TYC beats earnings estimates. The company reported adjusted EPS (from continuing operations) of 54 cents, exceeding the Zacks Consensus Estimate of 53 cents.
Revenue: Revenue misses marginally. TYC posted total revenue of $2,449 million, lower than the Zacks Consensus Estimate of $2,457 million.
Key Stats to Note: During the quarter, the company continued to make progress with its merger deal with Johnson Controls and expects to complete it by Sep 2, 2016. Owing to the Irish and European rules and regulations related to the proposed merger, TYC has withdrawn its earlier issued profit forecast.
Stock Price: Shares remained unchanged in the pre-market trading following the release at the time of this write-up.
Check back our full write up on this TYC earnings report later!
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free report >>
Image: Bigstock
Tyco (TYC) Beats Q3 Earnings, Misses on Revenues
With operations in more than 900 locations across 50 countries serving diversified end markets, Tyco International Ltd. is the world's largest pure-play fire protection and security firm. The company fills an incredibly wide range of needs for businesses, governments, commercial industries, educational and medical institutions, with a portfolio of leading brand names for products and services under all its operating segments.
However, TYC’s business strategy hinges on acquiring complementary companies that consume significant resources and entail huge integration costs. In the last four trailing quarters, TYC has managed to beat the earnings twice in the last four trailing quarters with a positive average earnings surprise of 1.95%.
TYCO INTL PLC Price and EPS Surprise
TYCO INTL PLC Price and EPS Surprise | TYCO INTL PLC Quote
Currently, TYC has a Zacks Rank #2 (Buy), but that could definitely change following the third-quarter fiscal 2016 earnings report, which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: TYC beats earnings estimates. The company reported adjusted EPS (from continuing operations) of 54 cents, exceeding the Zacks Consensus Estimate of 53 cents.
Revenue: Revenue misses marginally. TYC posted total revenue of $2,449 million, lower than the Zacks Consensus Estimate of $2,457 million.
Key Stats to Note: During the quarter, the company continued to make progress with its merger deal with Johnson Controls and expects to complete it by Sep 2, 2016. Owing to the Irish and European rules and regulations related to the proposed merger, TYC has withdrawn its earlier issued profit forecast.
Stock Price: Shares remained unchanged in the pre-market trading following the release at the time of this write-up.
Check back our full write up on this TYC earnings report later!
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free report >>