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Kemet

Kemet Corporation stock soars after fiscal 4Q earnings beat Street on surging capacitor sales

One reason for the surprise earnings beat was a big sales boost from its tantalum polymer product line

Man working on capacitor
The capacitor manufacturer saw net sales jump 12% to $355.8 million, beating analyst expectations of $343 million

Kemet Corporation (NYSE:KEM) stock rocketed higher Thursday after the company reported fiscal fourth-quarter results that easily outpaced expectations.

The capacitor manufacturer saw net sales jump 12% to $355.8 million, beating Street expectations of $343 million. Adjusted net income per share grew to $1.05 from $0.44, while analysts had called for $0.89.

The stock jumped 15% to $19.05.

One reason for the strong showing was a big sales boost from its tantalum product line. Sales among products made from the signature polymer increased 8.2% year over year to $137.2 million.

For the full year, the Florida company saw net sales rise 15.2% year over year to $1.4 billion and earnings per share more than doubled to $3.54 from $1.74. Analysts expected $1.4 billion in revenue and earnings per share of $3.39.

Looking ahead, the company expects first-quarter revenue between $338 and $348 million, slightly below Street estimates of $350.9 million.

Kemet produces and sells electronic components, including capacitors, sensors, and actuators.

Contact Andrew Kessel at [email protected]

Follow him on Twitter @andrew_kessel

Quick facts: Kemet

Price: $16.99

Market: NYSE
Market Cap: $985.85 m
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