Rockwell Collins, Inc. (NYSE:COL) early Friday posted better than expected fiscal second quarter earnings results and lifted its full-year profit outlook amid higher margins.
The Cedar Rapids, IA-based defense contractor reported Q2 earnings per share (EPS) of $1.34, which was $0.04 better than the Wall Street consensus estimate of $1.30.
Revenues rose 2.4% from last year to $1.34 billion, also narrowly beating analysts’ view for $1.33 billion.
Looking ahead, COL forecast full-year 2017 EPS of $5.95 to $6.15, which is well above the $5.47 that Wall Street is looking for. Rockwell Collins left its revenue forecast of $6.7 to $6.8 billion unchanged. That’s in-line with analysts’ consensus estimate of $6.74 billion for the year.
The company commented via press release:
“In the quarter, growth in our Government Systems, Information Management Services, and Air Transport businesses were partially offset by sales headwinds from lower business jet OEM deliveries. Operating margins grew 30 basis points over last year as we continued to realize the benefit of cost saving initiatives across all of our businesses.”
Rockwell Collins, Inc. shares were mostly flat in premarket trading Friday. Year-to-date, COL has gained 7.76%, versus a 5.74% rise in the benchmark S&P 500 index during the same period.