Precision Castparts Earnings

Following a preannouncement on Jan. 15, Precision Castparts  (NYSE: PCP  ) investors were already braced for a disappointing third-quarter earnings report. Wall Street analysts reduced their estimates after the preannouncement, but earnings and guidance still came in lighter than the (reduced) expectations. It was a tough quarter for Precision Castparts -- with organic sales and operating income both up 2% -- so let's take a detailed look at what went wrong in the quarter.


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