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FLIR Systems (FLIR) Q2 Earnings Beat, Sales Up Y/Y
July 26, 2017

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Incorporated in 1978, FLIR Systems, Inc. (FLIR - Free Report) is an Oregon-based corporation, which specializes in designing, manufacturing and marketing of thermal imaging systems. Its products are used in a wide variety of applications in commercial, industrial and government markets, both international and domestic. The company offers a variety of system configurations to suit specific customer requirements.

FLIR’s core strength in providing reliable and effective imaging and threat-detection technologies has been bolstering its growth momentum. This apart, the company’s “Commercially-Developed, Military Qualified” (“CDMQ”) model has been quite popular in government and military markets over the past couple of quarters, and is expected to drive earnings in the to-be-reported quarter as well.

FLIR Systems’ financials have been hurting from waning consumer spending and capital investments over the past few quarters. Sluggish economic growth in many of its key markets and intensifying competition in retail channels are expected to add to FLIR Systems’ challenges.

FLIR has had a dismal earnings surprise history, having missed estimates in three of the four trailing quarters, for an average negative surprise of 2.7%.

FLIR Systems, Inc. Price and EPS Surprise

Currently, FLIR has a Zacks Rank #3 (Hold) but that could change following its second-quarter 2017 earnings report which has just released. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

We have highlighted some of the key details from the just-released announcement below:

Earnings: FLIR’s adjusted earnings per share came in at 42 cents, beating the Zacks Consensus Estimate of 41 cents.

Revenue: Revenues of $434.1 million were marginally lower than the Zacks Consensus Estimate of $437 million.

Key Stats:  At the end of second-quarter 2017, FLIR's backlog of firm orders for delivery within the next twelve months stood at $645 million, reflecting an increase of 6% from the tally at the end of year-ago quarter. However, three of the company’s six segments registered year-over-year revenue declines.

Stock Price: Shares prices were inactive following the release. It would be interesting to see how the market reacts to the results during the trading session today.

Check back for our full write up on this FLIR earnings report later!

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