Colfax (NYSE: CFX) did beat expectations.<\/p>\n
As this is perhaps more important for short term oriented investors their numbers really underlign some nice trends:<\/p>\n
Net sales up 32%<\/p>\n
operating income up 57%<\/p>\n
Net earnings up 69%<\/p>\n
… Margin improvements! All segments exept defense contributed to these results.<\/p>\n
Order backlog at the end of the quarter stood at $ 369.8 mil, 31,5 % higher than one year ago.<\/p>\n
Here one can clearly see the positive impact of their acquisition strategy: The acquired companies alone contributed 27.3% to this order backlog growth!<\/p>\n
The balance sheet remains strong, but it is interesting how they ramp up inventories:<\/p>\n
most important – the inventory component \u201ework in progress” is up 60% as you can find if you dig into the 10 Q-report they already filed. A positive sign!<\/p>\n
On the statement of operations 2 legacy components are down:<\/p>\n
Asbestos liability and defense cost is down 7% and<\/p>\n
Asbestos coverage litigation expense is down 48%<\/p>\n
Let’s hope this positive trend continues and Colfax can get rid of this legacy costs over time!<\/p>\n
Colfax stock trades at a p\/e of 18 and at a p\/last year free cash flow of equally 18<\/p>\n
If you did not already buy perhaps wait for the next dip!<\/p>\n","protected":false},"excerpt":{"rendered":"
Colfax (NYSE: CFX) did beat expectations. As this is perhaps more important for short term oriented investors their numbers really underlign some nice trends: Net sales up 32% operating income up 57% Net earnings up 69% … Margin improvements! All segments exept defense contributed to these results. Order backlog at the end of the quarter […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[3],"tags":[],"_links":{"self":[{"href":"http:\/\/www.blog.asmus-puhl.com\/index.php?rest_route=\/wp\/v2\/posts\/693"}],"collection":[{"href":"http:\/\/www.blog.asmus-puhl.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.blog.asmus-puhl.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.blog.asmus-puhl.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.blog.asmus-puhl.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=693"}],"version-history":[{"count":9,"href":"http:\/\/www.blog.asmus-puhl.com\/index.php?rest_route=\/wp\/v2\/posts\/693\/revisions"}],"predecessor-version":[{"id":702,"href":"http:\/\/www.blog.asmus-puhl.com\/index.php?rest_route=\/wp\/v2\/posts\/693\/revisions\/702"}],"wp:attachment":[{"href":"http:\/\/www.blog.asmus-puhl.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=693"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.blog.asmus-puhl.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=693"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.blog.asmus-puhl.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=693"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}