UPDATE: Precision Castparts Posts Downbeat FQ3 Earnings
Precision Castparts (NYSE: PCP) reported a 28% rise in its fiscal third-quarter earnings.
Precision Castparts posted its quarterly profit of $433 million, or $2.96 per share, versus a year-ago profit of $338 million, or $2.30 per share. Its earnings from continuing operations came in at $2.95 per share.
Its sales surged 16% to $2.36 billion. However, analysts were expecting earnings of $3.04 per share on sales of $2.46 billion.
Precision Castparts shares closed at $270.69 yesterday.
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