Complex metal components maker Precision Castparts Corp. (PCP) on Thursday posted better-than-expected first quarter earnings results.
The Portland, OR-based company reported first quarter net income of $336.1 million, or $2.30 per share, compared with $271.0 million, or $1.87 per share, in the year-ago period. Excluding one-time items, adjusted profit was $2.31 per share.
Revenue rose 16% from last year to $1.95 billion.
On average, Wall Street analysts expected a smaller profit of $2.27 per share, on lower revenue of $1.93 billion.
Precision Castparts shares were inactive in premarket trading Thursday.
The Bottom Line
Shares of Precision Castparts (PCP) have a .07% dividend yield, based on last night’s closing stock price of $165.66. The stock has technical support in the $155-$160 price area. The stock is trading near all-time highs of $175-$179 price levels.
Precision Castparts Corp. (PCP) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.