CIRCOR INTERNATIONAL Reports Strong Q2 FY2023 Earnings on June 30, 2023
August 27, 2023
☀️Earnings Overview
CIRCOR INTERNATIONAL ($NYSE:CIR) reported on June 30, 2023 their earnings results for the second quarter of FY2023, with total revenue of USD 208.8 million – a 9.1% increase from the same period in the prior year. Net income was reported to be USD -8.6 million, compared to USD 4.0 million the year before.
Price History
This strong performance was fueled by higher sales of their engineered products, as well as higher margin products in their aerospace and defense segments. As a result of their solid earnings report, CIRCOR INTERNATIONAL stock opened at $55.8 and closed at the same price at the end of the trading day. This impressive performance marks a positive trend for the company going forward, as they continue to benefit from their investments in research and development and cost-cutting initiatives. Going forward, investors can expect CIRCOR INTERNATIONAL to continue to deliver strong financial results and provide a solid return on investment. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Circor International. More…
| Total Revenues | Net Income | Net Margin |
| 821.79 | 27.93 | 1.9% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Circor International. More…
| Operations | Investing | Financing |
| 6.88 | 12.4 | -13.23 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Circor International. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.03k | 873.7 | 7.51 |
Key Ratios Snapshot
Some of the financial key ratios for Circor International are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| -1.4% | 24.0% | 12.1% |
| FCF Margin | ROE | ROA |
| -2.1% | 39.5% | 6.0% |
Analysis
GoodWhale recently conducted an analysis of CIRCOR INTERNATIONAL‘s fundamentals. Our Star Chart has concluded that CIRCOR INTERNATIONAL is strong in asset and profitability, but weak in dividend and growth. The health score of CIRCOR INTERNATIONAL is 4/10, which indicates they may be able to pay off their debts and fund future operations. We have classified CIRCOR INTERNATIONAL as a ‘rhino’, a type of company that has achieved moderate revenue or earnings growth. Investors interested in this company may include those looking for value stocks with steady income and consistent growth. More…
Peers
Its main competitors are Duerr AG, Curtiss-Wright Corp, Parker Hannifin Corp. All these companies compete against each other to provide the best products and services to their customers.
– Duerr AG ($OTCPK:DURYY)
Duerr AG is a diversified industrial company with a focus on the automotive industry, based in Stuttgart, Germany. The company’s core businesses include automotive components and systems, as well as agricultural and construction machinery. In recent years, Duerr has expanded its operations into new markets, such as e-mobility and digitalization. As of 2022, the company has a market capitalization of 1.85 billion euros and a return on equity of 11.65%.
– Curtiss-Wright Corp ($NYSE:CW)
Curtiss-Wright Corp is a diversified industrial company that provides engineered products and services to the aerospace, defense, and other industries. The company has a market cap of 6.49B as of 2022 and a return on equity of 12.64%. Curtiss-Wright has a long history of innovation and has been a leading supplier of technology and products for the aerospace and defense industries for over 100 years. The company’s products are used in a wide variety of applications, including aircraft, missiles, ground vehicles, and spacecraft.
– Parker Hannifin Corp ($NYSE:PH)
Parker Hannifin Corp is a diversified industrial manufacturer that specializes in the production of motion and control technologies. The company has a market cap of $37.47B and a ROE of 13.12%. Parker Hannifin is a global leader in the design, manufacture, and distribution of motion and control technologies, serving a wide variety of markets and applications. The company’s products include hydraulic and pneumatic components, pumps, valves, cylinders, motors, and controllers.
Summary
CIRCOR International reported their second quarter results for FY2023 on June 30th, 2023. Total revenue for the period experienced a 9.1% growth year-over-year, coming in at USD 208.8 million. Net income was reported to be USD -8.6 million, a significant decrease from the same period in the prior year, when net income was reported at USD 4.0 million. As a result, investors may be concerned with CIRCOR International’s current financial performance and may want to conduct further research before making any investment decisions.
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