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Omar Venerio
Omar Venerio
Articles (1456) 

2 Stocks Move Wednesday

Smartsheet jumps, AAR Corp falls

March 20, 2019 | About:

Shares of Smartsheet Inc. (NYSE:SMAR) jumped almost 7.5% after the company posted fourth-quarter results on Tuesday. Revenue grew 58.2% from the prior-year quarter to $52.15 million, beating expectations by $2.43 million. The company posted a loss of 7 cents per share, but beat estimates by 6 cents.

"Our work execution platform continues to empower customers across the globe, our leadership in the expanding Collaborative Work Management market continues to strengthen, and we remain intensely focused on helping enterprises achieve a competitive advantage through digital transformation," CEO Mark Mader, said.

The GAAP operating loss declined to $12.7 million, or 24% of total revenue, from a GAAP operating loss of $8.6 million, or 26% of total revenue, in the prior-year quarter. The non-GAAP operating loss was $8.5 million, or 16% of total revenue, compared $7.5 million, or 23% of total revenue.

A solid financial generation was shown via the net operating cash flow, which grew to $4 million. Net free cash flow grew to $1 million.

Looking ahead the the first quarter of fiscal 2020, the company expects total revenue between $54 million and $55 million and a non-GAAP operating loss in the range of $20 million to $19 million.

Shares of AAR Corp. (NYSE:AIR) fell almost 5% on Wednesday after announcing third-quarter results. The company posted earnings of 79 cents per share on $529.5 million in revenue, a 16% year-over-year growth. The company beat earnings estimates by 9 cents, but fell $10.20 million short of revenue expectations.

The gross profit margin declined 90 basis points to 16.1%.

The company expects annual sales between $2.01 billion and $2.03 billion, adjusted EBITDA in the range of $165 million to $170 million and adjusted diluted earnings per share between $2.50 and $2.57.

Disclosure:The author holds no position in any stocks mentioned.

About the author:

Omar Venerio
Omar Venerio is a capital markets, derivatives, corporate finance and financial management professor. He is passionate about the stock market and providing independent fundamental research and hedge fund and insider trading-focused investigation.

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