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Why Cubic Stock Just Fell 18%

TheMotleyFool

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Shares of Cubic (NYSE: CUB) are in a tailspin this morning, falling 18% through 10:55 a.m. EST after the military contractor and maker of transportation systems software reported unexpectedly strong sales -- but unexpectedly weak profits -- in its fourth and final quarter of fiscal 2019.

Analysts had predicted Cubic would earn $1.94 per share, adjusted for one-time items on sales of $440.3 million in its fiscal fourth quarter 2019. Sales actually topped those estimates, coming in at $471.2 million, but earnings fell short -- only $1.86 per share, pro forma.

Image source: Getty Images.

Source Fool.com

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