- Mercury Systems (NASDAQ:MRCY) plummets 18% pre-market after yesterday's fiscal Q3 beats were offset by downside guidance FQ4 guidance and a lowered full-year outlook.
- For Q3, revenue was up 24% Y/Y to $256.9M. EPS was $0.64, two cents ahead of estimates.
- The FQ4 forecast has revenue of $236.5-246.5M (consensus: $269.2M), EPS of $0.66-0.69 (consensus: $0.73), and adjusted EBITDA of $58.1-60M (consensus: $62M).
- For the year, Mercury sees revenue of $910-920M (prior: $925-945M; consensus: $938.7M), EPS of $2.35-2.37 (prior: $2.35-2.42; consensus: $2.40), and adjusted EBITDA of $201-203M (prior: $201-206M; consensus: $204.8M).
- “The Company delivered a strong financial performance in the third quarter,” says CEO Mark Aslett. “Record revenues exceeded guidance and the integration of Physical Optics Corporation is progressing well. We continue to execute on our strategy to deliver strong margins while growing the business organically and supplementing the organic growth with disciplined M&A and full integration. Our pipeline is robust with multiple opportunities of varying sizes, all in line with the core of our strategy. We believe this strategy will continue to generate significant value for our shareholders,”
- Press release.