⏳ Final hours! Save up to 60% OFF InvestingProCLAIM SALE

Mercury Systems shares surge 10% after posting Q4 earnings, revenue beat

EditorRachael Rajan
Published 13/08/2024, 21:16
© Reuters.
MRCY
-

ANDOVER, Mass. - Mercury Systems, Inc. (NASDAQ:MRCY) reported better-than-expected fourth quarter results, sending shares soaring 10% in after-hours trading.

The aerospace and defense technology company posted adjusted earnings per share of $0.23, significantly beating analyst estimates of a $0.06 loss per share. Revenue came in at $248.6 million, surpassing the consensus forecast of $231.02 million.

"In fiscal 2024, we made considerable progress in addressing what we believe to be transient challenges in the business," said Bill Ballhaus, Mercury's Chairman and CEO. "We enter fiscal 2025 confident in our strategic positioning as a leader in mission-critical processing at the edge and our ability to deliver predictable organic growth with expanding margins and robust free cash flow."

The company reported a book-to-bill ratio of 1.14 for the quarter, with total bookings of $284.4 million. Mercury's backlog reached a record $1.3 billion, up 16% YoY.

Free cash flow for Q4 was $61.4 million, a substantial improvement from $3.8 million in the same quarter last year.

For the full fiscal year 2024, Mercury reported revenue of $835.3 million, down from $973.9 million in fiscal 2023. The company posted an adjusted loss per share of $0.69 for the year.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2024 - Fusion Media Limited. All Rights Reserved.