Mercury Systems Q3 revenue up 4% but adjusted EPS drops; cuts full-year guidance by $34-44M

MERCURY SYSTEMS INC

2023-Q3 EPS reported -$0.36 revenue$720,646,000

Revenue $263.5M (+4% YoY); GAAP net income $5.2M ($0.09 EPS) vs $4.1M ($0.07) prior year.
Adjusted EPS $0.40, down from $0.57; adjusted EBITDA $43.5M vs $52.5M YoY.
Full-year FY2023 guidance lowered: GAAP net income reduced $34M, adjusted EBITDA reduced $44M at midpoint.
Backlog $1.10B (+$103.2M YoY); bookings $245M with book-to-bill ratio of 0.93.
Free cash flow negative $12.7M; management cites shift to development programs and supply chain headwinds.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

MERCURY SYSTEMS INC updated its fiscal year 2023 guidance (lowered).

Period: fiscal year 2023
Guidance: lowered
Result: guidance update

Exact text from the filing

We’re lowering the range for GAAP net income and adjusted EBITDA by $34 million and $44 million at the midpoint.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

MERCURY SYSTEMS INC reported third quarter of fiscal 2023 ended March 31, 2023 results: revenue $263.5 million, net income $5.2 million, EPS $0.09 per share.

Period: third quarter of fiscal 2023 ended March 31, 2023
Revenue: $263.5 million
Net income: $5.2 million
EPS: $0.09 per share
Result: reported results

Exact text from the filing

Total Company third quarter fiscal 2023 revenues were $263.5 million, compared to $253.1 million in the third quarter of fiscal 2022. Total Company G AAP net income for the third quarter of fiscal 2023 was $5.2 million, or $0.09 per share, compared to $4.1 million, or $0.07 per share, for the third quarter of fiscal 2022.

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Source: SEC EDGAR

accession 0001049521-23-000007

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