CAS reported Q3 EPS at $0.44, beating analysts’ estimates of $0.37. Revenue also slightly beat forecasts of $1.19B and coming in at $1.2B displaying +2.04% year-over-year growth. Net income was recorded at $34M versus a net loss of ($2M) in the prior year. Adjusted earnings were $45M representing an increase from the prior year total of $20M. 2023 forecasted net capital expenditures of $325M is unchanged. CAS pays a decent and stable dividend at 4.02%, but rarely increases dividends with the last increase coming in Q3 of 2021, to the present amount at $0.12 per share. CAS displayed a solid Q3 with growth in EPS and revenue. Q4 results are expected to be weaker also by management, partially following a cyclical trend in this quarter and also due to general economic uncertainty. If rates pivot and there is no recession, shares still have some decent potential.
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