Wesco Results Miss Estimate; FY Outlook Weak

(RTTNews) - Wesco Aircraft Holdings Inc (WAIR) Thursday reported fourth-quarter net earnings of $24.6 million or $0.25 per share compared with $30 million or $0.31 per share last year.

Excluding items, adjusted earnings for the quarter were $0.30 per share compared with $0.33 per share a year ago.

Analysts polled by Thomson Reuters estimated earnings of $0.37 per share for the quarter. Analysts' estimates typically exclude special items.

Results were hurt by lower operating margins and higher interest expense as a result of the Haas acquisition financing, the company said.

Revenues for the quarter were $408 million compared with $234 million in the prior year. Analysts estimated revenues of $411.8 million.

For the full year 2015, the company expects adjusted earnings of $1.30 to $1.40 per share on revenues of $1.63 billion and $1.68 billion. Analysts expect earnings of $1.55 per share on revenues of $1.68 billion.

"We believe Wesco Aircraft remains well positioned to take advantage of strong OEM build rates and an expanding MRO market. We will be equally focused on achieving better performance through realizing expense synergies from our combined operations, which provide the market with a bundled solution," said Randy Snyder, the company's chief executive officer.

Wesco distributes and provides supply chain management services to the aerospace industry.