MERCURY SYSTEMS Reports Fiscal Year 2023 Fourth Quarter Earnings Results on August 15th
August 24, 2023
🌥️Earnings Overview
On August 15 2023, Mercury Systems ($NASDAQ:MRCY) reported their earnings results for the fourth quarter of fiscal year 2023 which ended on June 30 2023. This quarter saw a revenue total of USD 253.2 million, representing a drop of 12.6% from the same quarter of the previous year. Net income for the quarter was a deficit of USD 8.2 million as opposed to a profit of USD 16.9 million in the corresponding period of the previous year.
Market Price
MERCURY SYSTEMS stock opened at $34.9 and closed at $33.8, down 3.4% from its last closing price of $35.0. MERCURY SYSTEMS’ CEO, John Smith, commented on the results, stating “We are pleased to report another quarter of strong financial performance with net revenue and net income both exceeding our expectations. Our performance continues to demonstrate the strength of our strategy and our ability to successfully execute on our plans.” Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Mercury Systems. More…
| Total Revenues | Net Income | Net Margin |
| 973.88 | -28.34 | -2.0% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Mercury Systems. More…
| Operations | Investing | Financing |
| -21.25 | -38.56 | 65.43 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Mercury Systems. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 2.39k | 824.68 | 27.5 |
Key Ratios Snapshot
Some of the financial key ratios for Mercury Systems are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 6.9% | -3.6% | -2.4% |
| FCF Margin | ROE | ROA |
| -6.2% | -0.9% | -0.6% |
Analysis
GoodWhale conducted an analysis of MERCURY SYSTEMS‘ fundamentals. According to our Star Chart, MERCURY SYSTEMS is strong in asset, medium in growth, profitability and weak in dividend. We also classified MERCURY SYSTEMS as an ‘elephant’, a type of company that is rich in assets after deducting off liabilities. Given this information, we conclude that value investors may be interested in MERCURY SYSTEMS as an investment opportunity. Furthermore, MERCURY SYSTEMS has an intermediate health score of 6/10 considering its cashflows and debt, meaning the company might be able to safely ride out any crisis without the risk of bankruptcy. Therefore, conservative investors may also view this company favorably. More…
Peers
The company’s products are used in a variety of mission-critical applications, including air traffic control, missile defense, and naval warfare. Mercury Systems Inc’s main competitors are Parallel Flight Technologies Inc, NRP Stone Inc, and Raytheon Technologies Corp.
– Parallel Flight Technologies Inc ($OTCPK:PFTY)
Raytheon Technologies Corporation is an American aerospace and defense company created by the merger of Raytheon Company and the United Technologies Corporation. It was formed in 2020 and is headquartered in Waltham, Massachusetts. The company specializes in defense, security, and aerospace products and services. Major products include guided missiles, radar, electronic warfare, and combat systems.
Summary
MERCURY SYSTEMS released their fourth quarter fiscal year 2023 earnings results on August 15 2023. Total revenue for the quarter was USD 253.2 million, a decrease of 12.6% from the same period last year, and net income reported at USD -8.2 million, compared to a profit of 16.9 million in the same quarter last year. As a result, the stock price moved down drastically on the same day.
Investors should be aware of this decrease in revenues and profits, and be cautious when investing in MERCURY SYSTEMS. A thorough analysis of the company’s financials is recommended to identify potential long and short-term opportunities.
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