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Mar 31, 2023
Mercury Q3 2023 Earnings Report
Mercury Systems reported mixed Q3 2023 results with revenue exceeding guidance but earnings declining due to margin degradation.
Key Takeaways
Mercury Systems reported a 4% increase in revenue year-over-year, exceeding guidance. However, GAAP net income increased to $5.2 million, or $0.09 per share, and adjusted EPS decreased to $0.40 per share. The company's backlog grew 10% year-over-year, reaching $1.10 billion.
Revenues increased 4% year over year exceeding guidance.
GAAP net income was $5.2 million, or $0.09 per share.
Adjusted EPS was $0.40 per share.
Total backlog at March 31, 2023 was $1.10 billion, a $103.2 million increase from a year ago.
Forward Guidance
For the fourth quarter of fiscal 2023, revenues are forecasted to be in the range of $269.3 million to $289.3 million. GAAP net income for the fourth quarter is expected to be approximately $1.2 million to $9.1 million, or $0.02 to $0.16 per share. Adjusted EBITDA for the fourth quarter of fiscal 2023 is expected to be in the range of $49.6 million to $59.6 million. Adjusted EPS is expected to be in the range of $0.47 to $0.61 per share.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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