Q: Good afternoon,
Comments on PKI after earnings last night?
The market is not very happy today.
Comments on PKI after earnings last night?
The market is not very happy today.
5i Research Answer:
EPS of 84c beat estimates of 68c; revenue of $151M beat estimates of $131M. EBITDA of $463M missed estimates by 1.5%. The dividend was raisedd 2.9%. The company generally trades off EBITDA, and the miss worried investors. Still, EBITDA guidance for the year was raised slightly. Sales did fall 11%, reflecting lower pricing. We would not consider this a disaster, and the decline likely reflects profit-taking more than a fundamental shift. Decent growth is still expected over the next 18 months.