Precision Castparts Corp. (PCP) reported that its fourth-quarter net income attributable to the company increased to $414.2 million or $2.82 per share from $336.1 million or $2.30 per share in the prior year quarter.
The company said it continued to effectively leverage sales in its major markets in the fourth quarter of 2013, driven by year-over-year growth in commercial OEM aerospace demand, steady improvement in industrial gas turbine or IGT spares, and accelerating oil and gas downhole casing production, along with a full quarter of strong Timet performance.
Net income from continuing operations attributable to the company in the fourth quarter was $415.1 million, an increase of 23 percent over net income of $338.2 million in the prior year quarter. Earnings per share from continuing operations were $2.82, compared to $2.31 last year. Analysts polled by Thomson Reuters expected the company to report earnings of $2.76 per share for the quarter. Analysts' estimates typically exclude special items.
Sales for the quarter totaled $2.44 billion, growing 25 percent over sales of $1.95 billion in the same period last year. Eighteen analysts had consensus revenue estimate of $2.51 billion for the quarter.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.