Precision Castparts (PCP) has experienced weakness in demand from one of its important jet engine customers and softness in its less important energy-related businesses. As a result, management was forced to withdraw its long-standing estimate of $16.00 per share earnings for fiscal 2016. On its earnings call for fiscal 2015, ended March 31, management is expected to lay out revised forecasts for the new year as well as long-term goals.
From Westport Asset Management (Trades, Portfolio)’s Westport Select Cap Fund Q1 2015 Commentary.
