4Q Beats by 2 Cents; Raising FY19 Estimate
- Adjusted EPS for 4Q18 (Mar) was a record $1.24 (vs $1.11 last year), 2 cents above our figure on sales $14 million (or 2%) above what we modeled;
- FY18 adjusted EPS increased 10% to a record $4.15 (vs $3.79 in FY17);
- Our FY19 EPS estimate is now $4.72 (from $4.66 previously and Company guidance of $4.63-to-$4.75), up 14% from FY18, aided by new products, a 22% tax rate (vs 25%), and improving margins from divested businesses;
- Our FY20 EPS estimate is being introduced at $5.32, up 13% from our FY19 estimate.
Great Lakes Review is located in Cleveland, Ohio, was founded in 1981 and became a division of Wellington Shields & Co. LLC in 2011. Great Lakes Review is a research boutique focused on the fundamentally-oriented investor seeking companies that dominate their respective specialty niche regardless of industry. The objective is to make money for the long-term by gradually accumulating a diversified portfolio from a universe of no more than 30 companies. Although short-term-oriented accounts will be alerted to trading opportunities, aggressive sell recommendations are triggered only by a deterioration in long-term fundamentals, not by short-term blips or investor fancy. Coverage of those names that lose their earnings momentum or earnings predictability may be dropped and replaced with more vital candidates.
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