- Cubic (NYSE:CUB) soars 12.8% on Q3 results that beat revenue estimates with an 11% Y/Y revenue growth but missed on EPS. Reaffirmed FY18 guidance has in-line revenue of $1.135B to $1.185B (consensus: $1.17B) and adjusted EBITDA of $90M to $116M.
- Segment results: Cubic Transportation Systems, $164.6M (+21%); Cubic Global Defense Systems, $88.9M (last year: $89.1M); Cubic Mission Solutions, $42.7M (was: $40.7M).
- The company reported a record total backlog of $3.7B, up $1.2B from the end of FY17.
- Adjusted EBITDA was up 123% Y/Y to $28.2M.
- Operating income was $10.3M, up from $6.8M in last year’s quarter.
- Cash used in continuing operations was $32.8M compared to the $45M used last year.
- Earnings call is scheduled for 11 AM Eastern with a webcast available here.
- Press release.
- Previously: Cubic misses by $0.08, beats on revenue (Aug. 8)
- Now read: Cornerstone OnDemand +2.9% on rev beat, upside Q3 and FY guidance
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