The end of an earnings season can be a great time to discover new stocks and assess how companies are handling the current business environment. Let’s take a look at how Moog (NYSE:MOG.A) and the rest of the aerospace stocks fared in Q1.
Aerospace companies often possess technical expertise and have made significant capital investments to produce complex products. It is an industry where innovation is important, and lately, emissions and automation are in focus, so companies that boast advances in these areas can take market share. On the other hand, demand for aerospace products can ebb and flow with economic cycles and geopolitical tensions, which can be particularly painful for companies with high fixed costs.
The 15 aerospace stocks we track reported a decent Q1. As a group, revenues beat analysts’ consensus estimates by 1.4% while next quarter’s revenue guidance was in line.
Stocks, especially growth stocks with cash flows further into the future, had a good end of 2023. On the other hand, this year has seen more volatile stock market swings due to mixed inflation data. Thankfully, aerospace stocks have been resilient with share prices up 6.2% on average since the latest earnings results.
Best Q1: Moog (NYSE:MOG.A) Responsible for the flight control actuation system integrated in the B-2 stealth bomber, Moog (NYSE:MOG.A) provides precision motion control solutions used in aerospace and defense applications
Moog reported revenues of $930.3 million, up 11.2% year on year. This print exceeded analysts’ expectations by 6.5%. Overall, it was an incredible quarter for the company.
Interestingly, the stock is up 25.5% since reporting and currently trades at $197.40.
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Ducommun (NYSE:DCO) California’s oldest company, Ducommun (NYSE:DCO) is a provider of engineering and manufacturing services for high-performance products primarily within the aerospace and defense industries.
Ducommun reported revenues of $197 million, up 5.2% year on year, outperforming analysts’ expectations by 1.1%. It was an exceptional quarter for the company with an impressive beat of analysts’ earnings estimates.
The market seems happy with the results as the stock is up 9.7% since reporting. It currently trades at $65.08.
Weakest Q1: AerSale (NASDAQ:ASLE) Providing a one-stop shop that integrates multiple services and product offerings, AerSale (NASDAQ:ASLE) delivers full-service support to mid-life commercial aircraft.
AerSale reported revenues of $77.1 million, up 11.2% year on year, falling short of analysts’ expectations by 12.7%. It was a weak quarter for the company with a miss of analysts’ earnings estimates.
AerSale posted the weakest performance against analyst estimates in the group. As expected, the stock is down 8.6% since the results and currently trades at $5.09.
Howmet (NYSE:HWM) Inventing the first forged aluminum truck wheel, Howmet (NYSE:HWM) specializes in lightweight metals engineering and manufacturing multi-material components used in vehicles.
Howmet reported revenues of $1.88 billion, up 14.1% year on year, surpassing analysts’ expectations by 2.5%. Revenue aside, it was a very strong quarter for the company with an impressive beat of analysts’ operating margin estimates.
The stock is up 16.7% since reporting and currently trades at $96.66.
Curtiss-Wright (NYSE:CW) Formed from a merger of 12 companies, Curtiss-Wright (NYSE:CW) provides a range of products and services to the aerospace, industrial, electronic, and maritime industries.
Curtiss-Wright reported revenues of $784.8 million, up 11.4% year on year, surpassing analysts’ expectations by 6.7%. More broadly, it was a very strong quarter for the company with an impressive beat of analysts’ operating margin estimates and a solid beat of analysts’ earnings estimates.
The stock is up 17.9% since reporting and currently trades at $315.86.
This content was originally published on Stock Story
