Forgent Power climbs after FY27 outlook tops estimates
FPS•Stock performance since IPO
The stock is up 6.07% since its Feb. 5 IPO at $27.
Quarterly results show strong growth
The company reported fourth-quarter revenue up about 94% to $461.7 million.
Quarterly adjusted net income was $77.34 million, versus $20.62 million a year ago.
Shares rise after upbeat FY27 outlook
Shares of Forgent Power Solutions rose about 9% to $31.11 in premarket trading after the company forecast fiscal year 2027 revenue and profit above estimates on strong demand from data centers and other power-intensive projects.
The designer and manufacturer of electrical distribution equipment expects FY27 revenues to be between $2.4 billion and $2.6 billion, above analysts' estimates of $2.08 billion — data compiled by LSEG.
It also sees FY27 adjusted EPS in the range of $1.26 to $1.40, compared with expectations of $1.14.
