Here is the market action before and after the pre-market October 22 results. The results were mixed. From MSN money Goodrich cuts 2009 sales outlook:
Goodrich lowered its 2009 sales outlook, to $6.7 billion, compared with a forecast of $6.9 billion in July. The company said its estimate includes unfavorable sales impacts of about $154 million related to foreign currency exchange rate fluctuations and lower sales of about $125 million related to the formation of a joint venture.
The Charlotte company said it still expects to post a profit of $4.60 to $4.75 per share for 2009.
Analysts surveyed by Thomson Reuters, on average, expect a 2009 profit of $4.58 per share on $6.82 billion in sales.
For 2010, Goodrich said it expects to post a profit of between $4.15 and $4.40 per share on sales of about $7 billion. The company said 2010 should be a year of "modest recovery which should allow us to grow our commercial aftermarket sales." It expects the recovery will take hold toward the middle of next year. Its shares gained $1.81, or 3.3 percent, to $56.46 in morning trading.
Analysts, on average, expect a 2010 profit of $4.59 per share on $6.89 billion in sales.
Goodrich also said its third-quarter profit fell 14 percent, as the weak economy continued to depress sales.
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