Can I get your thoughts on Firan qtr results. Is it a buy at current levels? I am thinking of starting a small position.
Thanks
EPS of $0.12 slightly beat estimates of $0.117 and sales of $47.74M missed estimates of $49.23M. Sales increased 10.8% year-over-year, and its adjusted net earnings grew 8.3%. Bookings slightly exceeded revenue, with a book-to-bill ratio of 1.08, and its backlog grew 12%. Management noted it has not seen a material impact from US tariffs, and it is seeing strong demand in commercial aerospace, with Airbus ramping to 1,000+ aircraft per year. Defense spending is growing globally, but there are some risks such as transition delays as it moves its assembly from Toronto to Tianjin, causing shipment delays, and the simulator market is demonstrating chunky revenues. We think these were decent results, and although the stock saw a selloff, its overall trend in sales and growth expectations remain positive.