Mercury Systems beats Q2 revenue estimates, backlog up 8.8%

Reuters05:10
Mercury Systems beats <a href="https://laohu8.com/S/QTWO">Q2</a> revenue estimates, backlog up 8.8%

Overview

  • Defense tech firm's Q2 revenue beat analysts' expectations

  • Adjusted EBITDA beat analysts' expectations

  • Net loss narrowed to $15 mln from $17.6 mln

  • Company reported record backlog of $1.5 bln, up 8.8% yr/yr

Outlook

  • Company did not provide specific guidance for future quarters or full year

Result Drivers

  • HIGH-PRIORITY PROGRAMS - Mercury Systems attributed Q2 results to accelerated progress on high-priority customer programs, per CEO Bill Ballhaus

  • STRONG BOOKINGS - Mercury Systems achieved Q2 bookings of $288 mln, contributing to a book-to-bill ratio of 1.23

Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q2 Revenue

Beat

$233 mln

$210.85 mln (9 Analysts)

Q2 Net Income

-$15 mln

Q2 Adjusted EBITDA

Beat

$30 mln

$21.15 mln (9 Analysts)

Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", 2 "hold" and 1 "sell" or "strong sell"

  • The average consensus recommendation for the aerospace & defense peer group is "buy"

  • Wall Street's median 12-month price target for Mercury Systems Inc is $95.00, about 1.2% above its February 2 closing price of $93.89

  • The stock recently traded at 73 times the next 12-month earnings vs. a P/E of 69 three months ago

Press Release: ID:nGNXbjY7XS

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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