NASDAQ$MRCY
Mercury Systems Inc · Q3 2021 earnings
Q3 2021 earnings · · Investor relations
Briefing
Mercury Systems reported strong financial performance driven by record revenues and the successful integration of Physical Optics Corporation.
Mercury Systems reported a strong Q3 fiscal 2021 with record revenues of $256.9 million, a 23% increase year-over-year. GAAP net income was $15.6 million, or $0.28 per share, while adjusted EPS was $0.64. The company's backlog increased to $893.7 million.
- Record revenues increased 23% over the prior year.
- Backlog of $894 million increased 16% over the prior year.
- Physical Optics Corporation integration is progressing well.
- The company delivered a strong financial performance in the third quarter.
Headline financials
Revenue & EPS history
Mercury · Revenue · Quarterly
$257M
Forward guidance
For the fourth quarter of fiscal 2021, Mercury Systems forecasts revenues in the range of $236.5 million to $246.5 million and GAAP net income of $19.5 million to $20.9 million, or $0.35 to $0.38 per share. Adjusted EPS is expected to be in the range of $0.66 to $0.69 per share.
Tailwinds
- Revenues are forecasted to be in the range of $236.5 million to $246.5 million.
- GAAP net income for the fourth quarter is expected to be approximately $19.5 million to $20.9 million, or $0.35 to $0.38 per share.
- Adjusted EBITDA for the fourth quarter of fiscal 2021 is expected to be in the range of $58.1 million to $60.0 million.
- Adjusted EPS is expected to be in the range of $0.66 to $0.69 per share.
- For the full fiscal year 2021, revenues are forecasted to be in the range of $910.0 million to $920.0 million.
Headwinds
- GAAP net income of $63.5 million to $64.9 million, or $1.14 to $1.17 per share, assuming no incremental restructuring, acquisition, other non-operating adjustments, non-recurring financing in the period.
- Effective tax rate, excluding discrete items, of approximately 26% for the remainder of the year.
- Approximately 55.5 million weighted average diluted shares outstanding.
- Adjusted EBITDA for the full fiscal year is expected to be approximately $201.0 million to $203.0 million.
- Adjusted EPS for the full fiscal year is expected to be approximately $2.35 to $2.37 per share.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2021
+0.8%
Avg return
Earnings day
+0.7%
Avg return
5 days after
+3.8%
Avg return
30 days after
52%
33 / 64 earnings
Positive
+27.0%
Q1 2025
Best reaction
-23.7%
Q3 2021
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q3 2026 | +16.8% | +10.8% | +34.0% | |
| Q2 2026 | -18.9% | -14.0% | -13.0% | |
| Q1 2026 | +3.4% | -1.4% | -6.8% | |
| Q3 2025 | -4.9% | -7.8% | +5.4% | |
| Q2 2025 | +18.5% | +11.6% | +4.2% | |
| Q1 2025 | +27.0% | +28.4% | +15.4% | |
| Q4 2024 | +17.9% | +18.1% | +8.5% | |
| Q3 2024 | -1.4% | -4.1% | +3.4% | |
| Q2 2024 | -11.5% | -3.3% | +1.4% | |
| Q1 2024 | -13.5% | -12.9% | -2.8% | |
| Q4 2023 | +3.2% | +7.1% | +8.4% | |
| Q3 2023 | -19.7% | -13.9% | -13.8% | |
| Q2 2023 | +14.8% | +12.9% | +9.1% | |
| Q1 2023 | +3.4% | -0.7% | +6.4% | |
| Q4 2022 | -16.1% | -14.1% | -21.0% | |
| Q3 2022 | +4.9% | +1.0% | +11.4% | |
| Q2 2022 | -8.5% | -8.5% | +21.1% | |
| Q1 2022 | +0.3% | -1.1% | -8.6% | |
| Q4 2021 | -14.3% | -14.3% | -23.8% | |
| Q3 2021 | -23.7% | -15.1% | -13.3% | |
| Q2 2021 | +0.2% | +6.1% | -10.0% | |
| Q1 2021 | -1.4% | -3.0% | +0.1% | |
| Q4 2020 | +0.0% | +0.5% | -5.3% | |
| Q3 2020 | +9.3% | +2.0% | +4.5% | |
| Q2 2020 | +2.6% | +1.6% | +5.2% | |
| Q1 2020 | -1.8% | +3.2% | +1.8% | |
| Q4 2019 | +17.5% | +15.1% | +23.1% | |
| Q3 2019 | +2.5% | +1.7% | -3.6% | |
| Q2 2019 | +18.8% | +18.5% | +29.6% | |
| Q1 2019 | +7.6% | +10.2% | +16.9% | |
| Q4 2018 | +22.6% | +19.9% | +35.3% | |
| Q3 2018 | -23.1% | -27.3% | -20.0% | |
| Q2 2018 | -4.4% | -5.4% | -5.9% | |
| Q1 2018 | -3.4% | -3.4% | +1.0% | |
| Q4 2017 | -0.9% | +0.7% | +9.9% | |
| Q3 2017 | -5.8% | -5.9% | +1.6% | |
| Q2 2017 | +9.4% | +9.9% | +21.9% | |
| Q1 2017 | +13.6% | +14.5% | +29.8% | |
| Q4 2016 | -1.6% | -9.5% | -11.4% | |
| Q3 2016 | +4.8% | — | — | |
| Q2 2016 | +12.9% | — | — | |
| Q1 2016 | +5.7% | — | — | |
| Q4 2015 | +9.7% | — | — | |
| Q3 2015 | -4.1% | — | — | |
| Q2 2015 | +4.7% | — | — | |
| Q1 2015 | +13.6% | — | — | |
| Q4 2014 | -0.6% | — | — | |
| Q3 2014 | +5.3% | — | — | |
| Q2 2014 | +0.0% | — | — | |
| Q1 2014 | +2.9% | — | — | |
| Q4 2013 | +1.3% | — | — | |
| Q3 2013 | +5.8% | — | — | |
| Q2 2013 | -6.7% | — | — | |
| Q1 2013 | -2.8% | — | — | |
| Q4 2010 | -2.0% | — | — | |
| Q4 2012 | -15.8% | — | — | |
| Q3 2011 | -6.3% | — | — | |
| Q3 2012 | +4.5% | — | — | |
| Q2 2011 | -1.3% | — | — | |
| Q2 2012 | -10.2% | — | — | |
| Q4 2011 | -2.6% | — | — | |
| Q1 2011 | -2.6% | — | — | |
| Q1 2012 | +4.1% | — | — | |
| Q3 2010 | -8.5% | — | — |
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