Kaman reports Q2 adjusted EPS 22c, consensus 8c

Reports Q2 revenue $195.2M, consensus $185.13M. “The continued strength in our Engineered Products segment led to significant growth compared to the prior year period and provides confidence to raise our operating income and adjusted EBITDA expectations for 2023. Net sales for the Company increased by 21.4% compared to the prior year. Excluding the contribution of Aircraft Wheel and Brake, sales were up 8.2%, mostly driven by our Engineered Products segment. We continue to see strong order intake at this segment, particularly in our PMA aftermarket business. In the six-month period, operating income was $25.2 million, net earnings was $4.5 million and Adjusted EBITDA was $55.8 million, which includes $7.2 million in EBITDA from the JPF program, which is not expected to repeat in the back half of the year” said Ian K. Walsh, Chairman, President and Chief Executive Officer.