Precision Castparts Corp. Earnings Retreat 26% In Q2

(RTTNews) - Precision Castparts Corp. (PCP) announced a profit for second quarter that decreased compared to the same period last year.

The company said its profit fell to $344 million, or $2.49 per share. This was lower than $468 million, or $3.24 per share, in last year's second quarter.

Analysts had expected the company to earn $2.94 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 9.1% to $2.29 billion. This was down from $2.52 billion last year.

Precision Castparts Corp. earnings at a glance:

-Earnings (Q2): $344 Mln. vs. $468 Mln. last year. -Earnings Decline (Y-o-Y): -26.5% -EPS (Q2): $2.49 vs. $3.24 last year. -EPS Decline (Y-o-Y): -23.1% -Analysts Estimate: $2.94 -Revenue (Q2): $2.29 Bln vs. $2.52 Bln last year. -Revenue Change (Y-o-Y): -9.1%