Fuel Systems Solutions Inc. (FSYS) crushed estimates when it reported third quarter results on Nov 5.
The maker of alternative fuel components blew by the Zacks Consensus Estimate of 43 cents, reporting 77 cents per share in the quarter. It was the third consecutive earnings beat. Revenue rose 10% to $116.2 million.
The company did a record 47,000 systems installations and anticipates that demand from Europe will continue. For 2009, it expects revenue between $415 and $425 million.
Analysts have not yet revised estimates to reflect the big earnings surprise. The 2009 Zacks Consensus Estimate is currently calling for $1.68 per share. In 2010, analysts are expecting 18.56% earnings growth.
Fuel Systems is a Zacks #2 Rank (buy) stock. Earnings are expected to grow 27.33% over the next five years.
Read the Sep 14 article.
1-Year Chart:
The stock spiked off of the big earnings surprise and is now trading at new 52-week highs.
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