Why CIRCOR International's Shares Popped
Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of manufacturer CIRCOR International jumped 17% today after reporting third-quarter earnings.
So what: Revenue was up 2%, to $214.7 million, coming in slightly below the $216.3 million estimate from analysts. What really got investors excited was adjusted earnings per share of $0.93 in the quarter, $0.13 better than expectations.
Now what: Bottom line momentum was strong and, next quarter, the top line is expected to catch up. Management said revenue will be between $222 million and $228 million, well above expectations of $216 million. Earnings of $0.88 to $0.95 were also above the $0.76 estimate. I think this momentum on the bottom line will continue to drive shares higher.
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The article Why CIRCOR International's Shares Popped originally appeared on Fool.com.
Fool contributor Travis Hoium has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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