L-3 Communications Holdings Inc. is a leading supplier of a broad range of products and services used in a number of aerospace and defense platforms. The company is focused on consolidating its operations through acquisitions to improve its competitiveness. A robust financial position allows the company to continue with its acquisitions and create shareholder value at the same time.
However, the company has been witnessing weak performance in some of its product lines. The most worrying aspect of this is the downward trend in margins for service-related work due to competitive pressure.
Coming to the earnings surprises history, L-3 Communications has reported positive earnings surprises in the last four quarters with an average beat of 16.86%.
Zacks Rank
Currently, L-3 Communications has a Zacks Rank #3 (Hold), but that could definitely change following L-3 Communications’ earnings report which was just released. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
We have mentioned below some of the vital information from this just-revealed announcement:
Earnings Beat
Our consensus called for third quarter EPS of $1.82, and the company reported adjusted EPS of $1.88.
Revenue Miss
The company posted revenues of $2,505 million in third quarter, compared to our consensus estimate of $2,561 million.
Key Developments to Note
The company reported a 22.2% year over year increase in its funded orders in the third quarter as compared to the prior-year period. The funded orders for the reported quarter were $2.7 billion.
The company now expects its adjusted earnings guidance to the range of $7.85−$7.95 per share (versus its prior guided range of $7.65−$7.85 per share) with revenues of $10,250 −$10,350 billion (versus its prior guided range of $10,150 −$10,250 billion) for the year.
Check back later for our full write up on this L-3 Communications earnings report later!
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L-3 Communications Holdings Inc. is a leading supplier of a broad range of products and services used in a number of aerospace and defense platforms. The company is focused on consolidating its operations through acquisitions to improve its competitiveness. A robust financial position allows the company to continue with its acquisitions and create shareholder value at the same time.
However, the company has been witnessing weak performance in some of its product lines. The most worrying aspect of this is the downward trend in margins for service-related work due to competitive pressure.
Coming to the earnings surprises history, L-3 Communications has reported positive earnings surprises in the last four quarters with an average beat of 16.86%.
Zacks Rank
Currently, L-3 Communications has a Zacks Rank #3 (Hold), but that could definitely change following L-3 Communications’ earnings report which was just released. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
We have mentioned below some of the vital information from this just-revealed announcement:
Earnings Beat
Our consensus called for third quarter EPS of $1.82, and the company reported adjusted EPS of $1.88.
Revenue Miss
The company posted revenues of $2,505 million in third quarter, compared to our consensus estimate of $2,561 million.
Key Developments to Note
The company reported a 22.2% year over year increase in its funded orders in the third quarter as compared to the prior-year period. The funded orders for the reported quarter were $2.7 billion.
The company now expects its adjusted earnings guidance to the range of $7.85−$7.95 per share (versus its prior guided range of $7.65−$7.85 per share) with revenues of $10,250 −$10,350 billion (versus its prior guided range of $10,150 −$10,250 billion) for the year.
Check back later for our full write up on this L-3 Communications earnings report later!
Confidential from Zacks
Beyond this Tale of the Tape, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>