What Happened
Aerospace Manufacturer Exceeds Quarterly Estimates But Falls Short On Guidance
Applied Aerospace & Defense, Inc. reported a 48.6% increase in revenue to $182.1 million in the third quarter, driven by higher demand across its aerospace and defense businesses. Despite exceeding quarterly estimates, the company’s full-year revenue guidance of $660 million to $670 million fell below analyst expectations, leading to a 10% decline in shares. The company’s contract backlog reached $1.26 billion, providing revenue visibility over multiple years. This was reported by Unknown Source.