Truist raised the firm’s price target on Mercury Systems (MRCY) to $109 from $102 and keeps a Buy rating on the shares. The company beat consensus across the board, with free cash flows coming in materially ahead of the Street, the analyst tells investors in a research note. The management is focused on improving working capital through supply chain, accelerating customer deliveries, and demand planning, Truist added. Published first on TheFly – the ultimate source for real-time, market-moving breaking f ...

If you want full access to all our reports, data, and investing ideas, join The Aerospace Forum , the #1 aerospace, defense, and airline investment research service on Seeking Alpha, with access to evoX Data Analytics, our in-house developed data analytics platform.Mercury Systems, Inc. ( MRCY ), a provider of chips for the defense industry, tumbled 25 as net losses persisted despite beating analyst estimates. The stock price has advanced 36.5% since my last report , inDhierin-Perkash Bechai is an aerospace ...

If you want full access to all our reports, data and investing ideas, join The Aerospace Forum , the #1 aerospace, defense and airline investment research service on Seeking Alpha, with access to evoX Data Analytics, our in-house developed data analytics platform.Mercury Systems, Inc. ( MRCY ), a provider of chips for the defense industry, tumbled 25 as net losses persisted despite beating analyst estimates. The stock price has advanced 36.5% since my last report inDhierin-Perkash Bechai is an aerospace, de ...

Core Insights - Mercury Systems (MRCY) reported adjusted earnings of 16 cents per share for Q2 fiscal 2026, exceeding the Zacks Consensus Estimate by 128.6% and significantly up from 7 cents per share in the same quarter last year [1] - Revenues for the second quarter reached $232.87 million, marking a 4.4% year-over-year increase and surpassing the Zacks Consensus Estimate by 12.29% [1] Q2 Details - Total bookings for Q2 fiscal 2026 were $288 million, resulting in a book-to-bill ratio of 1.23 [2] - The company achieved a record backlog of $1.5 billion, which is an 8.8% increase year over year [2] Q2 Operating Details - Adjusted EBITDA for Q2 fiscal 2026 was $30 million, a 36.3% increase from $22 million in Q2 fiscal 2025 [3] - The adjusted EBITDA margin improved to 12.9% year over year [3] - GAAP net loss for the quarter was $15.1 million, with a diluted loss per share of 26 cents, compared to a net loss of $17.6 million and a loss per share of 30 cents in the prior year [3] Balance Sheet & Cash Flow - As of December 26, 2025, cash and cash equivalents were $335 million, up from $304.7 million as of September 26, 2025 [4] - Long-term debt remained unchanged at $591.5 million [4] - Cash flow from operations was $51.6 million, a significant increase from $2.2 million in the previous quarter [4] - Free cash flow for Q2 fiscal 2026 was $45.7 million, compared to negative $4.4 million in Q1 fiscal 2026 [4] Fiscal 2026 Outlook - The company maintains its full-year fiscal 2026 outlook, expecting low single-digit annual revenue growth and an adjusted EBITDA margin approaching the mid-teens [5] - Anticipates positive free cash flow for the year, with Q3 revenues expected to decline year over year, followed by a ramp-up in Q4 [5] - Q3 adjusted EBITDA margin is projected to approach double digits, while Q4 is expected to have the highest adjusted EBITDA margin of the fiscal year [5] Zacks Rank & Stocks to Consider - MRCY currently holds a Zacks Rank 4 (Sell) [6] - Other stocks in the aerospace sector with better rankings include CAE (Rank 2), Innovative Solution (Rank 1), and Bae Systems (Rank 2) [6]

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Core Insights - Mercury Systems reported revenue of $232.87 million for the quarter ended December 2025, reflecting a year-over-year increase of 4.4% and a surprise of +12.29% over the Zacks Consensus Estimate of $207.39 million [1] - The company's EPS for the quarter was $0.16, significantly higher than the $0.07 reported in the same quarter last year, resulting in an EPS surprise of +128.57% compared to the consensus estimate [1] Revenue Performance - Net Revenue from Sensor & Effector - Radar was $53.72 million, exceeding the two-analyst average estimate of $34.55 million, with a year-over-year change of +14% [4] - Net Revenue from Sensor & Effector - Electronic Warfare reached $27.48 million, surpassing the average estimate of $20.07 million, marking a year-over-year increase of +14.9% [4] - Net Revenue from Other was reported at $36.85 million, slightly below the average estimate of $39.5 million, showing a year-over-year decline of -11.2% [4] - Total Net Revenue from Sensor & Effector was $105.16 million, compared to the average estimate of $74.32 million, indicating a year-over-year change of +12.9% [4] - Net Revenue from C4I was $90.87 million, slightly below the average estimate of $93.33 million, with a year-over-year change of +2.7% [4] - Net Revenue from Other Sensor & Effector was $23.95 million, exceeding the average estimate of $19.7 million, representing a year-over-year increase of +8.2% [4] Stock Performance - Shares of Mercury Systems have returned +15.5% over the past month, outperforming the Zacks S&P 500 composite's +1.8% change [3] - The stock currently holds a Zacks Rank 4 (Sell), suggesting potential underperformance relative to the broader market in the near term [3]

William L. Ballhaus: Thanks, Tyler. Good afternoon. Thank you for joining our Q2 FY 2026 earnings call. We delivered Q2 results that were ahead of our expectations, with solid year-over-year growth in backlog, revenue, and adjusted EBITDA and robust free cash flow. Our ability to accelerate progress on a number of our customers' high-priority programs once again contributed to strong results this quarter, including record first-half revenue. Today, I'll cover three topics. First, some introductory comments ...

Mercury Systems (MRCY) came out with quarterly earnings of $0.16 per share, beating the Zacks Consensus Estimate of $0.07 per share. This compares to earnings of $0.07 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of +128.57%. A quarter ago, it was expected that this maker of processing systems and software would post earnings of $0.08 per share when it actually produced earnings of $0.26, delivering a surprise of +225%.Over th ...

Mercury Systems (NasdaqGS:MRCY) Q2 2026 Earnings call February 03, 2026 05:00 PM ET Company ParticipantsAustin Moeller - Director of Equity ResearchBill Ballhaus - Chairman and CEODave Farnsworth - EVP and CFONoah Poponak - Managing Director of Equity ResearchPeter Arment - Managing DirectorTyler Hojo - VP of Investor RelationsConference Call ParticipantsJonathan Ho - Technology AnalystKen Herbert - Senior Aerospace and Defense AnalystKyle Baker - Investment Banking AnalystMichael Ciarmoli - Senior Research ...