Wesco, BlackLine Beat Wall Street Expectations

Wesco Aircraft Holdings Inc. beat Wall Street estimates on adjusted earnings and revenue for the fiscal second quarter. The Valencia aerospace parts and supply chain services provider reported on Thursday adjusted net income of $23.2 million (23 cents a share) for the quarter ending March 31 compared to adjusted net income of $22.2 million (22 cents) in the same period a year earlier. Revenue increased 9 percent to nearly $427 million. Analysts on average expected earnings of 2 cents on revenue of $415 million, according to Thomson Financial Network. “Financial results in the fiscal 2019 second quarter reflect continued improvement in most areas of the business. Sales were robust across all major product categories, as we took advantage of a growing market,” Chief Executive Todd Renehan said in a statement. Shares in Wesco (WAIR) closed down 5 cents, or less than a percent, to $8.38 on the New York Stock Exchange. ¬¬¬¬¬¬¬¬¬¬¬¬¬¬¬¬¬¬¬¬¬¬¬¬¬¬¬¬¬ BlackLine Inc. beat Wall Street expectations on adjusted earnings and revenue for the first quarter. The Woodland Hills accounting software developer reported on Thursday adjusted net income of $1.1 million (2 cents a share) for the quarter ending March 31 compared to adjusted net income of $306,000 (1 cent) in the same period a year earlier. Revenue increased by 25 percent to $64.1 million. Analysts on average expected earnings of -1 cent on revenue of $63.3 million, according to Thomson Financial Network. “The first quarter was a good start to the year as we focused on execution and demonstrated early progress towards driving growth and scaling the business,” Chief Executive Therese Tucker said in a statement. “We believe BlackLine is uniquely positioned to operate as a strategic partner to organizations that are embarking on digital transformation within their accounting and finance organizations.” Shares in BlackLine closed up $1.67, or more than 3 percent, to $53.28 on the Nasdaq.