Cubic Posts Strong Q3 Financials but Defence Division Weakens

Cubic Corporation on 7 August reported a 29% year-on-year (y/y) sales increase for the third quarter (Q3) of its fiscal year, covering the three months to 30 June. Operating profits in Q3 more than trebled to USD34.7 million, delivering net profits of USD24.1 million. Adjusted earnings per share of USD0.66 were 38% higher than for the same period...

Cubic Corporation on 7 August reported a 29% year-on-year (y/y) sales increase for the third quarter (Q3) of its fiscal year, covering the three months to 30 June.

Operating profits in Q3 more than trebled to USD34.7 million, delivering net profits of USD24.1 million. Adjusted earnings per share of USD0.66 were 38% higher than for the same period in 2018.

Cubic Corporation chairman, president and CEO Bradley Feldmann described a “strong quarter of growth and overall robust financial performance”, but the company narrowed its fiscal year 2019 financial guidance to expect sales of USD1.44 billion to USD1.48 billion, with adjusted EBITDA of USD145 million to USD155 million.

Source: www.janes.com