On 19 March 2020, CIRCOR International, Inc. (NYSE: CIR) changed -32.18% to recent value of $9.02. The stock transacted 197539 shares during most recent day however it has an average volume of 104.52K shares. It spotted trading -81.13% off 52-week high price. On the other end, the stock has been noted -31.15% away from the low price over the last 52-weeks.

CIRCOR International, Inc. (CIR) recently reported preliminary financial results for the fourth quarter and full year ended December 31, 2019.

As revealed in a Form 12b-25 that the Company filed with the SEC recently, CIRCOR requires additional time to file its Form 10-K for the year ended December 31, 2019.

Highlights

  • Strong fourth quarter 2019 results from continuing operations
    • Revenue of $243M, down 9% stated, up 2% organically
    • Preliminary GAAP earnings per share from continuing operations of $0.16
    • Adjusted earnings per share of $0.82
    • Preliminary GAAP operating margin of 7.0%
    • Adjusted operating margin of 13.3%
    • A&D Section operating margin of 22.9%, up 490 bps year-over-year
  • Delivered 2019 Adjusted EBITDA target and on track for 2020 targets communicated in 18-month plan
  • Completed the sale of non-core Instrumentation & Sampling in January 2020 for $172M
  • Achieved pro-forma net leverage ratio of 3.6 times
  • Repriced debt in February 2020, reducing interest expense by 25 bps

“We ended the year with another solid quarter, delivering a record 13.3% adjusted operating margin from continuing operations, up 190 basis points from a year ago,” stated Scott Buckhout, President and Chief Executive Officer. “In January we sold our Instrumentation and Sampling business for $172M with net proceeds going to further reduce debt.”

“We delivered on our 2019 goal to achieve substantial earnings growth while deleveraging the Company,” Mr. Buckhout continued. “Since January 2019, we have generated over $340M in proceeds from non-core asset sales, enabling CIRCOR to accelerate the reduction of debt.”

“Looking ahead, we are on track to deliver our 2020 commitments. We continue to focus on driving long-term growth, expanding margins, generating strong free cash flow, and deleveraging as we drive value for our shareholders,” concluded Mr. Buckhout.

First-Quarter 2020 Guidance

For the first quarter of 2020, CIRCOR expects revenue in the range of $190M to $205M, and GAAP loss per share in the range of $(0.25) to $(0.05), which reflects acquisition-related amortization expense of $(0.48) and other special and restructuring (charges) gains of $(0.27) to $(0.17). Not Including the impact of amortization, special and restructuring (charges) gains, adjusted EPS is predictable to be in the range of $0.50 to $0.60 per share. This guidance excludes revenue and earnings from the Instrumentation & Sampling business which was sold on January 31, 2020.

CIR has a gross margin of 32.00% and an operating margin of 5.40% while its profit margin remained -1.90% for the last 12 months. Its earnings per share (EPS) expected to touch remained -340.50% for this year while earning per share for the next 5-years is expected to reach at 6.07%.  The company has 23.43M of outstanding shares and 16.94M shares were floated in the market. According to the most recent quarter its current ratio was 2 that represents company’s ability to meet its current financial obligations. The price moved ahead of -72.38% from the mean of 20 days, -77.18% from mean of 50 days SMA and performed -77.59% from mean of 200 days price. Company’s performance for the week was -64.54%, -79.72% for month and YTD performance remained -80.49%.

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