Order delays suppress PCC earnings

Jan 24, 2014 | 05:59 PM | Frank Haflich

Tags  Precision Castparts, PCC, aerospace, Mark Donegan, Zacks Research, Boeing, earnings report, Frank Haflich

LOS ANGELES — Unexpected customer demands to postpone deliveries near the end of Precision Castparts Corp.’s (PCC’s) fiscal third quarter helped push the company’s financial results below Wall Street forecasts.

Mark Donegan, chairman and chief executive officer of the Portland, Ore.-based metals producer and manufacturer, said in an earnings conference call that PCC was hit by "unprecedented late-quarter dynamics" in the three months ended Dec. 29 that were "certainly more severe than we’d typically experienced or anything that we expected." He said PCC made the products "to customer demand" and they were "on the (shipping) dock." ....

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