Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of lift truck and construction sector parts supplier Cascade
So what: For the quarter, Cascade reported a non-GAAP profit of $0.98 on a 14% rise in sales to $125.9 million. Wall Street, on the other hand, was looking for Cascade to earn $1.05 on sales of $128.5 million. The company noted that flooding at its facility in Australia continues to adversely affect its results and will continue to do so in the near term.
Now what: Year over year, Cascade reported a significant jump in EPS and showed revenue increases across all regions, highlighted by an 18% jump in revenue from the Americas. It has also managed to keep margins consistent, so I don't see problems at its Australian facility being anything more than a short-term problem for the company. At just 10.5 times trailing 12-month earnings, this is definitely a company I'd consider giving a closer look to over the long term.
Craving more input? Start by adding Cascade to your free and personalized watchlist so you can keep up on the latest news with the company.
