RESEARCH TRIANGLE PARK – The latest quarterly financials are in for a host of N.C. companies, Here’s the latest:
- Qorvo reports loss
GREENSBORO — Qorvo Inc. (QRVO) on Wednesday reported a loss of $43.6 million in its fiscal first quarter.
The Greensboro, North Carolina-based company said it had a loss of 44 cents per share. Earnings, adjusted for one-time gains and costs, came to 34 cents per share.
The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 15 cents per share.
The chipmaker posted revenue of $651.2 million in the period, also beating Street forecasts. Seven analysts surveyed by Zacks expected $639.8 million.
For the current quarter ending in September, Qorvo expects its per-share earnings to be $1.75.
The company said it expects revenue in the range of $985 million to $1.01 billion for the fiscal second quarter.
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CHARLOTTE — Albemarle Corp. (ALB) on Wednesday reported second-quarter earnings of $650 million.
On a per-share basis, the Charlotte, North Carolina-based company said it had net income of $5.52. Earnings, adjusted for non-recurring costs, came to $7.33 per share.
The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $4.27 per share.
The specialty chemicals company posted revenue of $2.37 billion in the period, falling short of Street forecasts. Six analysts surveyed by Zacks expected $2.51 billion.
Albemarle expects full-year earnings in the range of $25 to $29.50 per share, with revenue in the range of $10.4 billion to $11.5 billion.
Albemarle shares have decreased slightly more than 6% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $202.89, a drop of 17% in the last 12 months.
- SPX Technologies posts profit
CHARLOTTE — SPX Technologies, Inc. (SPXC) on Wednesday reported second-quarter earnings of $36 million.
The Charlotte, North Carolina-based company said it had profit of 77 cents per share. Earnings, adjusted for non-recurring costs and to account for discontinued operations, were $1.06 per share.
The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 84 cents per share.
The infrastructure equipment supplier posted revenue of $423.3 million in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $390.7 million.
SPX Technologies expects full-year earnings in the range of $4.15 to $4.30 per share, with revenue in the range of $1.72 billion to $1.76 billion.
- Ingersoll Rand reports profit
DAVIDSON — Ingersoll Rand Inc. (IR) on Wednesday reported second-quarter profit of $179.5 million.
On a per-share basis, the Davidson, North Carolina-based company said it had profit of 44 cents. Earnings, adjusted for one-time gains and costs, came to 68 cents per share.
The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 59 cents per share.
The maker of flow control and compression equipment posted revenue of $1.69 billion in the period, which also beat Street forecasts. Five analysts surveyed by Zacks expected $1.58 billion.
Ingersoll expects full-year earnings in the range of $2.70 to $2.80 per share.
- Curtiss-Wright reports profit
DAVIDSON — Curtiss-Wright Corp. (CW) on Wednesday reported second-quarter profit of $81 million.
The Davidson, North Carolina-based company said it had net income of $2.10 per share. Earnings, adjusted for non-recurring costs, were $2.15 per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.97 per share.
The engineering firm posted revenue of $704.4 million in the period, also exceeding Street forecasts. Five analysts surveyed by Zacks expected $648.8 million.
Curtiss-Wright expects full-year earnings in the range of $8.90 to $9.15 per share, with revenue in the range of $2.73 billion to $2.79 billion.
- Dentsply beats Street
CHARLOTTE — Dentsply International Inc. (XRAY) on Wednesday reported second-quarter profit of $86 million.
On a per-share basis, the Charlotte, North Carolina-based company said it had profit of 40 cents. Earnings, adjusted for non-recurring costs, were 51 cents per share.
The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 43 cents per share.
The dental products manufacturer posted revenue of $1.03 billion in the period, also beating Street forecasts. Eight analysts surveyed by Zacks expected $992.2 million.
Dentsply expects full-year earnings in the range of $1.92 to $2.02 per share, with revenue in the range of $3.98 billion to $4.02 billion.
