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Last $199.05 USD
Change Today -2.17 / -1.08%
Volume 929.5K
PCP On Other Exchanges
Symbol
Exchange
Munich
As of 8:04 PM 07/2/15 All times are local (Market data is delayed by at least 15 minutes).

precision castparts corp (PCP) Key Developments

Precision Castparts Corp. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended March 29, 2015

Precision Castparts Corp. reported unaudited consolidated earnings results for the fourth quarter and full year ended March 29, 2015. For the quarter, the company reported net sales of $2,504 million against $2,519 million a year ago. Net income was $137 million against $486 million a year ago. Net income attributable to company from continuing operations was $149 million against $478 million a year ago. Net income per share diluted from continuing operations was $1.06 against $3.27 a year ago. Net income per share diluted was $0.96 against $3.31 per share a year ago. For the year, the company reported net income of $1,533 million against $1,784 million a year ago. Total comprehensive income attributable to company was $1,014 million against $1,906 million a year ago. Net cash provided by operating activities was $1,702 million against $1,882 million a year ago. Capital expenditures was $455 million against $351 million a year ago.

Precision Castparts Corp. Declare a Quarterly Cash Dividend, Payable on June 29, 2015

The board of directors of Precision Castparts Corp. has declared a quarterly cash dividend of $0.03 per share on the company's common stock payable on June 29, 2015, to shareholders of record at the close of business on June 5, 2015.

Precision Castparts Corp. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended March 29, 2015; Provides Earnings Guidance for the Fiscal Year 2016

Precision Castparts Corp. reported unaudited consolidated earnings results for the fourth quarter and full year ended March 29, 2015. For the quarter, the company has posted net sales of $2,504 million against $2,519 million a year ago. Income before income tax expense and equity in earnings of unconsolidated affiliates was $473 million against $703 million a year ago. Net income from continuing operations was $151 million or $1.06 diluted per share against $480 million or $3.27 diluted per share a year ago. Net income attributable to company was $135 million or $0.96 diluted per share against $484 million or $3.31 diluted per share a year ago. Capital expenditures were $170 million against $92 million a year ago. Adjusted earnings per share from continuing operations (diluted) were $2.94 against $3.27 a year ago. For the year, the company has posted net sales of $10,005 million against $9,533 million a year ago. Income before income tax expense and equity in earnings of unconsolidated affiliates was $2,539 million against $2,588 million a year ago. Net income from continuing operations was $1,548 million or $10.77 diluted per share against $1,759 million or $11.95 diluted per share a year ago. Net income attributable to company was $1,530 million or $10.66 diluted per share against $1,777 million $12.12 diluted per share a year ago. For the fiscal year 2016, the company is establishing guidance for EPS from continuing operations of $12.50 to $13.40 with sales in the range of $10.0 billion to $10.4 billion. This assumes a tax rate of 32.5%. The company expects $70 million of net interest expense and little incremental impact from pension, reflecting strong asset returns offset by a lower discount rate for the year. Finally, free cash flow is expected to be $1.4 billion to $1.5 billion in 2016, with capital expenditure investments of approximately $550 million for several significant capacity expansion projects as well as cost and productivity improvements throughout the organization.

Precision Castparts Plans Acquisitions

Precision Castparts Corp. (NYSE:PCP) intends to make acquisitions. Mark Donegan, Chairman and Chief Executive Officer of Precision Castparts said: “Our capital allocation framework supports a multi-pronged strategy that prioritizes internal investment and value-creating acquisitions, with excess cash returned to shareholders in the form of share repurchases once the first two criteria are met. During FY15, we acquired ADI for approximately $625 million, and we have closed two smaller acquisitions in Q1 FY16. We continue to be very active on the acquisition front, with several opportunities in front of us.”

Precision Castparts Corp. Presents at RBC Capital Markets' Aerospace & Defense Investor Day, May-14-2015 09:20 AM

Precision Castparts Corp. Presents at RBC Capital Markets' Aerospace & Defense Investor Day, May-14-2015 09:20 AM. Venue: New York, New York, United States. Speakers: Mark Donegan, Chairman and Chief Executive Officer.

 

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PCP

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Valuation PCP Industry Range
Price/Earnings 18.5x
Price/Sales 2.8x
Price/Book 2.5x
Price/Cash Flow 18.0x
TEV/Sales 2.2x
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