Mercury Sys Inc Stock Price, News & Analysis

Mercury Systems hosted U.S. Senator Kyrsten Sinema and leaders from Arizona’s manufacturing sector at its Phoenix facility on April 25, 2023. The event, organized by the Arizona Manufacturers Council, centered on enhancing U.S. manufacturing competitiveness, particularly in aerospace and defense. Senator Sinema, who led discussions on workforce policies, emphasized the need for skilled labor in a sector challenged by job vacancies. Mercury's Vice President, Tom Smelker, highlighted the importance of domestic semiconductor packaging, which is primarily done overseas, and the necessity of attracting more talent to address workforce shortages. The company aims to expand its secure, advanced semiconductor packaging capabilities, essential for military applications.

Mercury Systems Inc. (NASDAQ: MRCY) will release its third quarter fiscal year 2023 financial results on May 2, 2023, after market close. Following this, management will host a conference call at 5:00 p.m. ET to discuss the results, provide business highlights, and outlook. Participants can register online to attend the call and may expect discussions on earnings forecasts and other financial matters that have not been previously disclosed. Mercury Systems specializes in delivering processing power for aerospace and defense missions, making commercial technologies more accessible. The company is headquartered in Andover, Massachusetts, and operates 24 locations globally.

Mercury Systems, Inc. (NASDAQ: MRCY) announced the appointment of Christine Fox Harbison as Executive Vice President and Chief Growth Officer, effective March 6, 2023. Reporting to CEO Mark Aslett, Harbison will lead the company’s growth strategy, enterprise-level proposals, strategic account management, and global partnerships. Previously, she held key positions at Northrop Grumman and Raytheon, bringing over three decades of experience in the defense technology sector. As Harbison joins Mercury, she aims to enhance the company’s role in the U.S. defense industry by making advanced technologies more accessible for national security missions.

Mercury Systems (NASDAQ: MRCY) hosted U.S. Rep. Dale Strong at its Huntsville, Alabama facility on February 16, 2023. The visit highlighted Mercury's role in the aerospace and defense sector, focusing on its commitment to delivering electronic solutions that enhance decision-making for national security. With a growing workforce of nearly 100, the facility specializes in secure processing components for electronic warfare and radar systems. The company is actively hiring for various technical roles, reflecting its expansion in the region.

Mercury Systems, Inc. (MRCY) reported Q2 FY2023 results showing revenues of $229.6M, a 4% increase from the previous year, alongside bookings of $270.3M, yielding a book-to-bill ratio of 1.18.

Despite a GAAP net loss of $10.9M ($0.19 per share), adjusted EPS was $0.26. The backlog hit a record of $1.12B with $765.5M expected to convert to revenue in the next 12 months.

Looking forward, the company expects revenues for Q3 FY2023 to range between $245M to $260M and maintains its annual guidance for revenues between $1.01B and $1.05B.