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Why Mercury Systems Stock Is Falling Today

TheMotleyFool

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Why Mercury Systems Stock Is Falling TodayPhoto, wide shot, wide-angle lens, Metal fabrication, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Hiroshi Sugimoto: https://img.midjourneyapi.xyz/temp/568784d0-c41a-4663-ab01-91f29a370903.png

Aerospace tech company Mercury Systems' (NASDAQ: MRCY) quarterly results slightly exceeded expectations, but its guidance was weak. That guidance has the shares tumbling more than 20% in Wednesday morning trading.

On Tuesday after markets closed, Mercury reported fiscal third-quarter adjusted earnings of $0.64 per share on revenue of $256.86 million, topping analyst expectations of $0.62 per share in earnings on revenue of $253 million. The company makes components for a variety of commercial aerospace and defense platforms, for example rugged ethernet routing devices used by Boeing in the AH-64E Apache helicopter.

Image source: Getty Images.

Source Fool.com

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