Deutsche Bank Comments On Goodrich 1Q Results

According to Deutsche Bank, Goodrich (NYSE: GR) 1Q results were very strong with 12% top-line growth (9% org) vs. 10% consensus expectation and underlying EPS of $1.41 vs. its/Street ests. Of $1.22/1.25.

Deutsche Bank said that the beat was driven by strong aftermarket sales growth (+12% y/y; +9% sequentially) and better margin performance across all 3 divisions, with incrementals of 40% and total EBIT margin +280bps y/y. “Management raised its full year EPS outlook to $5.40-$5.55 from $5.30-5.45, more realistic but still room for subsequent raises in our view. Maintain Buy given upside to our price target.”

Goodrich closed the previous trading day at $88.03.