Precision Castparts Corp. (PCP) Thursday reported an increase in profit for the fourth quarter, as sales at all the three segments improved. Earnings for the quarter came in ahead of analysts' expectations, as did revenues.
Investment cast products segment sales rose 8 percent to $602.7 million, while forged products unit grew 11 percent to $858.1 million from last year.
Looking ahead, Precision Castparts said demand will be driven by increases in Airbus and Boeing base program builds in late calendar 2012 and early 2013, as well as by 787 production.
Chief Executive Mark Donegan said, "The commercial aerospace market is robust and shows no signs of slowing down for several years. Boeing and Airbus continue to take up the base production build rates, and the ramp-up of the 787 program is just beginning to get exciting."
Fastener division fourth-quarter sales rose 42 percent to $487.9 million from last year.
Precision Castparts net sales for the fourth quarter grew 16 percent to $1.95 billion from $1.67 billion in the prior-year quarter. Wall Street analysts on a consensus expected revenues of $1.93 billion for the quarter.
The Portland, Oregon-based company's profit for the fourth quarter improved to $336.1 million or $2.30 per share, compared to $271.0 million or $1.87 per share last year.
Earnings from continuing operations rose to $2.31 per share from $1.87 per share in the same quarter a year ago. On average, 22 analysts polled by Thomson Reuters expected earnings of $2.27 per share for the quarter. Analysts' estimates typically exclude special items.
PCP is currently trading on the NYSE at $168.73. up $2.95 or 1.78% on a volume of about 1 million shares.
For comments and feedback contact: editorial@rttnews.com
Business News
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.