Precision Castparts Q2 Profit Climbs - Quick Facts

(RTTNews) - Metal components and products maker Precision Castparts Corp. or "PCC" (PCP) posted higher results for the second quarter of fiscal 2014, driven by solid commercial aerospace demand, steady recovery in power markets, further top- and bottom-line contributions from TIMET, and unrelenting focus on operational improvements in each of its facilities.

For the quarter, net income attributable to PCC advanced to $424 million, from $332 million in the prior-year quarter, with earnings per share attributable to PCC shareholders rising to $2.89, from $2.27 a year ago. On average, 21 analysts polled by Thomson Reuters expected earnings per share of $2.83 for the quarter. Analysts' estimates typically exclude one-time items.

Quarterly sales reached $2.36 billion, up 23 percent over sales of $1.93 billion last year, reflecting around 6 percent organic growth, excluding the impact of contractual pass-through pricing and other changes in metal/revert pricing. Analysts estimated revenues of $2.36 billion for the period.