James Fisher and Sons (LON:FSJ) Posts Quarterly Earnings Results

James Fisher and Sons (LON:FSJ) announced its quarterly earnings results on Tuesday. The company reported GBX 6.50 earnings per share (EPS) for the quarter, Digital Look Earnings reports. James Fisher and Sons had a negative net margin of 1.12% and a negative return on equity of 2.37%.

Here are the key takeaways from James Fisher and Sons’ conference call:

• Underlying operating profit rose 27.9% to £14.2 million in the first half, with the margin improving to 7.2% and ROCE rising 210 basis points to 8.2%.
• Defense revenue increased 43% to £53.8 million and operating profit rose to £5.3 million. The £295 million order book, plus approximately £95 million of framework awards, provides strong forward revenue visibility.
• Maritime Transport delivered a 48% increase in operating profit to £10.2 million, supported by strong tanker utilization, improved spot rates and higher Latin American ship-to-ship activity. Three of four new tankers have now been delivered.
• Energy remained a significant headwind, with revenue down 20.6% and operating profit down 45% as geopolitical uncertainty, delayed oil and gas projects and weaker offshore wind construction reduced higher-margin activity.
• Management maintained its full-year expectations, provided energy markets do not materially worsen, while continuing to target 10% operating margins and 15% ROCE without specifying a timeline for reaching those goals.

James Fisher and Sons Trading Up 1.0%

FSJ traded up GBX 4.49 on Wednesday, hitting GBX 447.49. The company had a trading volume of 21,514 shares, compared to its average volume of 67,492. The company’s fifty day moving average price is GBX 459.84 and its 200 day moving average price is GBX 476.53. James Fisher and Sons has a 1 year low of GBX 326 and a 1 year high of GBX 554. The company has a current ratio of 1.16, a quick ratio of 1.12 and a debt-to-equity ratio of 108.62. The firm has a market cap of £225.91 million, a P/E ratio of -51.44 and a beta of 0.79.

Wall Street Analyst Weigh In

Separately, Berenberg Bank lowered their price objective on James Fisher and Sons from GBX 850 to GBX 835 and set a “buy” rating for the company in a research report on Tuesday. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of GBX 682.50.

James Fisher and Sons Company Profile

James Fisher and Sons plc is a leading provider of unique marine solutions in Energy, Defence and Maritime Transport. The Group pioneers safe, innovative solutions that solve complex customer challenges for industries and governments around the world.

For more information visit www.james-fisher.com