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What: Shares of Wesco Aircraft Holdings were hitting turbulence today, falling as much as 11%, after reporting quarterly earnings.
So what: Revenue for Wesco, which provides support services for the aerospace industry, scooted up 10%, to $211 million, but that still missed estimates and was partly driven by its acquisition of Interfast. Adjusted EPS of $0.25 was short of estimates of $0.28, but guidance for the year was still within the expected range at $1.14 to $1.19. CEO Randy Snyder said the first quarter was "strong," and had high confidence in the yearly guidance due to a high number of bookings and new customers.
Now what: After a brief dip, shares bounced back and were only down 2% near the end of the session, so shareholders seem to be taking the earnings miss in stride. Increased bookings and new customers indicate the company is moving in the right direction, and growth outside of North America was especially strong, at 32%. Despite today's miss, nothing seems seriously awry here.
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The article Why Wesco Aircraft Shares Slid originally appeared on Fool.com.Fool contributor Jeremy Bowman has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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