Why Wesco Aircraft Holdings Stock Just Dropped 21%

Airline supply chain management company Wesco Aircraft Holdings' (NYSE: WAIR) stock took its shareholders for a roller-coaster ride this morning, falling as much is 21% in early trading before bouncing back to book an 11% loss as of noon EST. The reason, as you might have guessed, is earnings.

Wesco reported its fiscal fourth-quarter and full-year 2017 earnings after close of trading last night, and this morning was investors' first chance to trade on the news. Analysts had expected Wesco to report pro forma profits of $0.16 per diluted share. Instead, Wesco reported a $0.39 per share GAAP loss for its fiscal fourth quarter and a pro forma profit of $0.08 per share. By either measure, therefore, Wesco "missed" earnings.

Wesco stock is losing a lot of altitude today. Image source: Getty Images.

Source: Fool.com