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Apr 01, 2022
Mercury Q3 2022 Earnings Report
Mercury Systems delivered solid results driven by record bookings and strategic initiatives.
Key Takeaways
Mercury Systems reported solid third-quarter results with record bookings of $295 million, a book-to-bill ratio of 1.17, and a backlog of $996 million. The company's revenue was $253.1 million, with GAAP net income at $4.1 million, or $0.07 per share, and adjusted EPS at $0.57 per share. They refinanced their revolving credit facility to $1.1 billion and are executing their 1MPACT value creation initiative.
Record bookings of $295 million resulting in a book-to-bill ratio of 1.17.
Backlog reached a record $996 million, positioning the company for organic growth.
Revolving credit facility refinanced and increased to $1.1 billion.
1MPACT value creation initiative is being executed as planned.
Mercury
Mercury
Forward Guidance
Mercury Systems provided business outlook for the fourth quarter of fiscal year 2022, revenues are forecasted to be in the range of $301.5 million to $321.5 million. GAAP net income for the fourth quarter is expected to be approximately $30.1 million to $35.5 million, or $0.53 to $0.63 per share and adjusted EPS is expected to be in the range of $0.96 to $1.06 per share.