- Ducommun Inc (NYSE:DCO) has priced its public offering of 2 million shares at $40 per share.
- The offer price represents a 17% discount to the company’s closing price on May 15, 2023.
- The company expects net proceeds from the offering of $74.4 million.
- Ducommun has granted the underwriters a 30-day option to purchase up to an additional 300,000 shares.
- The company intends to use the net proceeds to repay indebtedness under its revolving credit facility that was used to finance its acquisition of BLR Aerospace L.L.C.
- The closing of the offering is expected to occur on May 18, 2023.
- Price Action: DCO shares are trading lower by 14.3% at $41.50 in premarket on the last check Tuesday.
Waste Management Stock Climbs After Earnings: What’s Going On?
Waste Management posted quarterly adjusted earnings of $1.74 per share which beat the analyst consensus estimate of $1.53 by 13.73% and is a 33.85% increase over earnings of $1.30 per share from the same period last year.
The company reported quarterly sales of $5.22 billion, beating the analyst consensus estimate of $5.19 billion by 0.44% and representing a 5.71% increase over sales of $4.93 billion year-over-year.
