Precision Castparts (PCP) Issues Q3 Warning on Falling Commodity Prices

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Precision Castparts Corp. Provides Preliminary Third Quarter Fiscal Year 2015 Results

January 15, 2015 7:15 PM EST

PORTLAND, Ore., Jan. 15, 2015 (GLOBE NEWSWIRE) -- Precision Castparts Corp. (NYSE: PCP) announced today that lower demand in oil & gas end markets, further aerospace engine destocking at a single customer, year-end customer inventory management actions, and an extended equipment upgrade negatively impacted the company's third quarter fiscal year 2015 sales and earnings. The combination of these factors leads the company to expect that third quarter sales will be in the range of $2.42 billion to $2.47 billion and earnings per share (EPS) from continuing operations (attributable to PCC) in the range of $3.05 to $3.10 (diluted).

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