FLIR Systems' (FLIR) Q1 Earnings Top Estimates, Grows Y/Y
Incorporated in 1978, FLIR Systems, Inc. FLIR is an Oregon-based corporation, which specializes in designing, manufacturing and marketing of thermal imaging systems. Its products are used in a wide variety of applications in commercial, industrial and government markets, both international and domestic. The company offers a variety of system configurations to suit specific customer requirements.
FLIR’s core strength in providing reliable and effective imaging and threat-detection technologies has been bolstering its growth momentum. This apart, the company’s “Commercially-Developed, Military Qualified” (“CDMQ”) model has been quite popular in government and military markets over the past couple of quarters, and is expected to drive earnings in the to-be-reported quarter as well.
FLIR Systems’ financials have been hurting from waning consumer spending and capital investments over the past few quarters. Sluggish economic growth in many of its key markets and intensifying competition in retail channels are expected to add to FLIR Systems’ challenges.
FLIR has had a decent earnings surprise history, with three beats and one in-line earnings over the trailing four quarters, for an average positive surprise of 3.6%.
Currently, FLIR has a Zacks Rank #3 (Hold) but that could change following its first-quarter 2018 earnings report which has just released. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
We have highlighted some of the key details from the just-released announcement below:
Earnings: FLIR’s adjusted earnings per share came in at 48 cents, beating the Zacks Consensus Estimate of 43 cents.
FLIR Systems, Inc. Price, Consensus and EPS Surprise
FLIR Systems, Inc. Price, Consensus and EPS Surprise | FLIR Systems, Inc. Quote
Revenue: Revenues of $439.6 million were higher than the Zacks Consensus Estimate of $397.5 million.
Key Stats: The company has realigned six of its segments namely, OEM & Emerging Markets, Surveillance, Instruments, Security, Detection and Maritime into three units. The new segments are called Government & Defense, Industrial and Commercial. Two of these three segments registered year-over-year revenue increase.
Stock Price: FLIR’s shares were inactive in the pre-market trading following the release.
Check back for our full write up on this FLIR earnings report later!
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