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Last $14.30 USD
Change Today +0.22 / 1.56%
Volume 472.8K
WAIR On Other Exchanges
Symbol
Exchange
New York
Berlin
As of 8:04 PM 08/28/15 All times are local (Market data is delayed by at least 15 minutes).

wesco aircraft holdings inc (WAIR) Key Developments

Wesco Aircraft Holdings, Inc. Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended June 30, 2015; Provides Financial Guidance for the Fiscal Year 2015

Wesco Aircraft Holdings, Inc. announced unaudited consolidated earnings results for the third quarter and nine months ended June 30, 2015. For the quarter, the company's net sales were $368.7 million, compared to $395.6 million in the prior-year period. Net income in the quarter was $16.5 million, or $0.17 per diluted share compared with $28.8 million or $0.29 per diluted share a year ago. Adjusted net income was $21.3 million, or $0.22 per diluted share, compared to $33.0 million, or $0.34 per diluted share in the same period last year. The change primarily reflects the decline in adjusted organic sales and higher selling, general and administrative expenses. Income from operations was $36.2 million compared with $52.7 million a year ago. Income before provision for income taxes was $24.4 million compared with $44.9 million a year ago. EBITDA was $40.3 million compared with $61.2 million a year ago. Adjusted EBITDA was $42.6 million compared with $63.2 million a year ago. Organic sales were $368.7 million compared with $395.6 million a year ago. Adjusted organic sales were $378.5 million compared with $395.6 million a year ago. The decline in sales is almost entirely due to the large commercial contract the company had previously identified and the impact of currency. Organic sales adjusted for the impact of foreign currency movements decreased 4% in the fiscal 2015 third quarter compared to the prior-year period. The decrease in adjusted organic sales was primarily due to a large commercial hardware contract that concluded on March 31, 2015, as previously disclosed. Free cash flow was $32.6 million in the quarter, representing 153% of adjusted net income. For the nine months, the company's net sales were $1.1 billion, an increase of 19% compared to $947.7 million in the prior-year period. The net sales increase was driven primarily by the Haas acquisition. Net income in the period was $59.3 million, or $0.61 per diluted share compared with $77.5 million or $0.79 per diluted share a year ago. Adjusted net income in the period was $74.1 million, or $0.76 per diluted share, compared to $90.9 million, or $0.93 per diluted share in the same period last year. Adjusted EBITDA in the period was $146.2 million, compared to $162.1 million in the first nine months of fiscal 2014. Income from operations was $119.8 million compared with $135.8 million a year ago. Income before provision for income taxes was $90.4 million compared with $118.8 million a year ago. Net cash provided by operating activities was $83.9 million compared with $2.4 million a year ago. Purchases of property and equipment were $4.7 million compared with $7.9 million a year ago. EBITDA was $138.2 million compared with $152.4 million a year ago. Adjusted EBITDA was $146.2 million compared with $162.1 million a year ago. Organic sales were $885.3 million compared with $947.7 million a year ago. Adjusted organic sales were $901.8 million compared with $914.9 million a year ago. Organic sales (excluding the Haas acquisition) decreased 7% in the fiscal 2015 year-to-date period, compared to the same period last year. The company continues to expect an increase in free cash flow in fiscal 2015 and to use free cash flow to pay down debt. The company's expectation for the year is that the effective tax rate will be in the $33 million to 35% range.

Wesco Aircraft Holdings, Inc. to Report Q3, 2015 Results on Aug 06, 2015

Wesco Aircraft Holdings, Inc. announced that they will report Q3, 2015 results at 2:00 PM, Pacific Standard Time on Aug 06, 2015

Wesco Aircraft Holdings, Inc., Q3 2015 Earnings Call, Aug 06, 2015

Wesco Aircraft Holdings, Inc., Q3 2015 Earnings Call, Aug 06, 2015

Wesco Aircraft Appoints Daniel C. Snow as Executive Vice President of Strategy and Business Process Development

Wesco Aircraft Holdings, Inc. announced that it has appointed Daniel C. Snow as executive vice president, strategy and business process development. Mr. Snow will lead Wesco’s accelerated integration with Haas Group and the development and deployment of comprehensive business processes. Mr. Snow was most recently Vice President and General Manager, Landing Systems at UTC Aerospace Systems.

Wesco Aircraft Announces Unaudited Consolidated Earnings Results for Second Quarter and Six Months Ended March 31, 2015

Wesco Aircraft announced unaudited consolidated earnings results for second quarter and six months ended March 31, 2015. For the quarter, the company reported net sales of $385,559,000, income from operations of $44,317,000, income before provision for income taxes of $35,762,000, net income of $23,046,000 or $0.24 per diluted share compared to the net sales of $327,360,000, income from operations of $42,522,000, income before provision for income taxes of $36,709,000, net income of $24,312,000 or $0.25 per diluted share for the same quarter a year ago. EBITDA was $51,788,000 against $46,771,000 a year ago. Adjusted EBITDA was $54,752,000 against $54,437,000 a year ago. Adjusted Net Income was $28,222,000 or $0.29 per diluted share against $32,008,000 or $0.33 per diluted share a year ago. Free cash flow was $36.5 million, compared to a negative $9.0 million in the fiscal 2014 second quarter. For the six months, the company reported net sales of $759,255,000, income from operations of $83,608,000, income before provision for income taxes of $65,928,000, net income of $42,776,000 or $0.44 per diluted share, net cash provided by operating activities of $49,472,000, purchases of property and equipment of $2,912,000 compared to net sales of $552,082,000, operating earnings of $83,135,000, income before provision for income taxes of $73,854,000, income from operations of $48,682,000 or $0.5 per diluted share, net cash used in operating activities of $33,691,000, purchases of property and equipment of $3,173,000 for the same period a year ago. EBITDA was $97,909,000 against $91,189,000 a year ago. Adjusted EBITDA was $103,567,000 against $98,968,000 a year ago. Adjusted Net Income was $52,850,000 or $0.54 per diluted share against $57,906,000 or $0.60 per diluted share a year ago.

 

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WAIR

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Valuation WAIR Industry Range
Price/Earnings 16.7x
Price/Sales 0.9x
Price/Book 1.3x
Price/Cash Flow 16.6x
TEV/Sales 0.2x
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