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Goodrich Corporation (NYSE:GR) supplies aerospace components, systems, and services for the commercial and general aviation airplane, and defense and space markets primarily in the United States, Europe, Canada, and the Asia Pacific. The company provides a range of actuators, including primary and secondary flight controls, helicopter main and tail rotor actuation, engine and nacelle actuation, utility actuation, precision weapon actuation, and land vehicle actuation products, landing gear systems, and aircraft wheels and brakes.

It is scheduled to report its Q2 2012 results on June 20, 2012, before the market opens.

Technical Overview


Key Metrics

  • Market Cap: 15.95B
  • 52-week trading range: 80.07 - 126.85
  • Trailing P/E: 20.20
  • Forward P/E: 16.02
  • Price/Sales: 1.91
  • Price/Book: 4.00
  • PEG Ratio: 1.36
  • Total Debt: 2.38B
  • Annual dividend yield: 0.70%
  • Return on Equity: 21.22%
  • Return on Assets: 8.47%

Recent EPS Actuals vs. Estimates

The company has failed to meet analysts' estimates in the last quarter. It reported $1.46 EPS, failing to meet analyst estimates of $1.65.

The consensus EPS is $1.71 based on 11 analysts' estimates, up from $1.38 a year ago. Revenue estimates are $2.22B, up from $2.00B a year ago. The median target price by analysts for the stock is $127.50.

Average recommendation: Hold

Source: Marketwatch

Latest Developments

  • On June 11, 2012, Goodrich Corporation announced that it has received a production order for its SiIMU02 inertial measurement units (IMU) from Thales in Belfast. The IMUs will be used as the standard inertial sensor on Thales' new Lightweight Multi-role Missile (LMM).
  • On June 8, 2012, Goodrich Corporation announced that it has received an order from the U.S. Army to provide 80 spare health and usage management system (HUMS) electronic units for the Army's UH-60 Black Hawk helicopters.
  • On May 22, 2012, Reuters reported that United Technologies Corp. is confident that its pending $16.5 billion takeover of Goodrich Corporation will close in July, despite an ongoing European Union antitrust review of the deal.
  • On May 7, 2012, Goodrich Corporation announced that it has been selected to provide the air data system, ice detector, windshield ice protection controller, and the fuel quantity gauging and control system for the new Embraer KC-390 military transport aircraft.
  • On April 2, 2012, Goodrich Corporation announced that it has signed a nacelle services agreement with LOT Polish Airlines for support of the nacelles and thrust reversers for the airline's fleet of Embraer 195 aircraft powered by CF34-10E engines.
  • On March 16, 2012, Reuters reported that United Technologies Corp. aims to sell three small units to raise about $3 billion in cash that the Company said would allow it to avoid issuing new common shares immediately to fund acquisition.
  • On February 21, 2012, Goodrich Corporation announced that it has declared a quarterly dividend of $0.29 per share on its common stock, payable April 2, 2012 to shareholders of record as of March 2, 2012.

Competitors

Goodrich Corp. operates in Aerospace/Defense Products & Services industry. The company could be compared to BE Aerospace Inc. (NASDAQ:BEAV), Precision Castparts Corp. (NYSE:PCP), TransDigm Group Incorporated (NYSE:TDG), and Triumph Group, Inc. (NYSE:TGI). Below is the table comparison of the most important ratios between these companies and the industry.

Below is the chart comparison with the stock price changes as a percentage for the selected companies and S&P 500 index for the last one year period.

(click to enlarge)GR Chart

GR data by YCharts

Competitors' Latest Development

  • On June 7, 2012, Triumph Group, Inc. announced that the previously announced public offering of 4,666,116 shares of common stock offered by investment funds associated with The Carlyle Group to Credit Suisse Securities (USA) LLC, acting as underwriter for the offering, has been offered by the underwriter to purchasers in one or more transactions directly or through agents, or through brokers in brokerage transactions on the New York Stock Exchange, or to dealers in negotiated transactions or in a combination of such methods of sale, at a fixed price or prices, which may be changed, or at market prices prevailing at the time of sale, at prices related to such prevailing market prices or at negotiated prices.
  • On May 23, 2012, Triumph Group, Inc. announced an amendment to its existing revolving credit agreement which increased the size, modified the fee structure and extended the maturity to five years.
  • On May 21, 2012, Precision Castparts Corp. announced that it has agreed to acquire Dickson Testing Company (Dickson) and Aerocraft Heat Treating Company (Aerocraft). Dickson offers a full range of destructive testing services including: mechanical properties; metallurgical and chemical analyses; and low-cycle fatigue testing.
  • On May 7, 2012, Precision Castparts Corp. announced that it has agreed to acquire Centra Industries, aerostructures manufacturer located in Cambridge, Ontario. The transaction is expected to be completed during the first quarter of fiscal 2013, after which Centra's results will be reported as part of the Fastener Products segment.
  • On May 3, 2012, Triumph Group, Inc. announced that for fiscal 2013, it expects sales in the range of $3.5-$3.7 billion and earnings per share (EPS) from continuing operations in the range of $5.45-$5.55 per diluted share, excluding integration costs.
  • On April 23, 2012, Triumph Group, Inc. announced that Richard C. Ill, Chairman and Chief Executive Officer, expects to retire as Chief Executive Officer of the Company effective July 19, 2012, the date of the Company's board meeting and annual meeting of stockholders.
  • On April 23, 2012, B/E Aerospace, Inc. announced that it is guiding fiscal 2012 earnings outlook of approximately $2.75 per diluted share including approximately $0.13 per share interest expense drag on earnings from undeployed capital due to the Company's recent issuance of $500 million of 5.25% senior unsecured notes due 2022.
  • On March 29, 2012, Triumph Group, Inc. announced that its subsidiary, Triumph Insulation Systems, has entered into a long term contract with DAHER-SOCATA, a subsidiary of DAHER Group, to provide the full life cycle of thermal and acoustic insulation systems for the international aerospace market.
  • On March 28, 2012, The Law Firm of Levi & Korsinsky, LLPannounced that it is examining TransDigm Group Incorporated and its Board of Directors, in connection with the compensation practices pertaining to certain executive officers.
  • On March 9, 2012, Precision Castparts Corp. announced that it has agreed to acquire RathGibson, LLC.. RathGibson manufactures precision thin-wall, nickel-alloy and stainless steel welded and seamless tubing.
  • On March 8, 2012, B/E Aerospace, Inc. announced that it has commenced an underwritten public offering of an aggregate principal amount of $375 million of its senior notes due 2022.
  • On March 8, 2012, B/E Aerospace, Inc. announced the pricing of a public offering of $500 million aggregate principal amount of 5.25% senior notes due 2022. The size of the offering was increased from the previously announced $375 million to $500 million.
  • On February 22, 2012, Bodycote International plc announced that it has signed a five year agreement with Precision Castparts Corp (PCC)Structurals, a subsidiary of worldwide metal components manufacturer, Precision Castparts Corp.
  • On February 15, 2012, TransDigm Group Incorporated announced that it has completed the acquisition of AmSafe Global Holdings, Inc. (AmSafe), for a total purchase price on a cash free, debt free basis of approximately $750 million in cash from a group controlled by Berkshire Partners LLC and Greenbriar Equity Group LLC.
  • On February 1, 2012, B/E Aerospace, Inc. announced that for fiscal 2012, it expects revenues to be approximately $2.95 billion and earnings per share of approximately $2.75 per diluted share.
  • On January 31, 2012, Triumph Group, Inc. announced that for fiscal 2012, it is raising its diluted per share earnings guidance from continuing operations to approximately $4.70 excluding integration costs.
  • On January 21, 2012, TransDigm Group Incorporated announced a definitive agreement to purchase AmSafe Global Holdings, Inc. ("AmSafe"), a privately-owned, world supplier of innovative, highly engineered and proprietary safety and restraint equipment used primarily in the global aerospace industry.
  • On January 9, 2012, B/E Aerospace, Inc. announced that it has signed a definitive agreement to acquire UFC Aerospace Corp. (UFC), a provider of complex supply chain management and inventory logistics solutions to aerospace original equipment manufacturers.

Sources: Yahoo Finance, Google Finance, Marketwatch, Finviz, Reuters.

Source: Earnings Preview: Goodrich Corporation