Earnings Wrap: Mellanox, Valmont Among 5 Companies Reporting Quarterly Results

Mellanox Revenue Jumps

Mellanox Technologies, Ltd. (NASDAQ:MLNX) reported net income of $0.87 per share on revenue of $214.8 million for the second quarter, beating the consensus analyst estimates by $0.04 per share and $1.9 million. Revenue rose by 31.7% year-over-year, as demand increased for the company’s 25, 50, and 100 Gigabit Ethernet products. For the third quarter, management anticipates non-GAAP gross margins of 71%-to-72% and quarterly revenue of $221 million-to-$227 million. 28 funds in our database had a long position in Mellanox Technologies, Ltd. (NASDAQ:MLNX) at the end of March, down by two quarter-over-quarter.

FMC Misses the Mark

Traders are watching FMC Technologies, Inc. (NYSE:FTI) today after the company missed both the top and bottom-line estimates of analysts with its second quarter results. EPS came in at $0.22 on revenue of $1.15 billion, while analysts were expecting EPS of $0.30 and $1.26 billion in revenue. Sales fell by 32% year-over-year due to lower activity caused by lower crude prices as demand for deepwater and other services remains tepid. The company’s backlog came in at $3.4 billion and adjusted operating margin was 14.1%. Total inbound orders for the time period amounted to $537.9 million. Ownership of FMC Technologies, Inc. (NYSE:FTI) among the funds in our system rose by five quarter-over-quarter to 35 as of the end of March.

Hexcel Delivers Solid Quarter

Hexcel Corporation (NYSE:HXL) beat both top and bottom-line estimates with its latest quarterly results, pulling in EPS of $0.70 on revenue of $522.6 million for the second quarter, exceeding estimates by $0.05 per share and $18.29 million, respectively. Sales rose by 9.9% year-over-year, driven by demand in the company’s commercial aerospace segment. Guidance was also strong, as management raised the mid-point of its 2016 earnings guidance to $2.48-to-$2.56 per share from the previous guidance of $2.44-to-$2.56 per share. The number of smart money institutions in our system with holdings in Hexcel Corporation (NYSE:HXL) fell by two quarter-over-quarter to 11 as of the end of the first quarter.

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