Forgent Power Solutions shares rise following quarterly earnings beat

Forgent Power Solutions (NYSE: FPS) reported quarterly earnings that exceeded analyst expectations, leading to a gap up in its stock price. The company reported earnings per share (EPS) of $0.25, surpassing the consensus estimate of $0.24. Revenue for the quarter reached $461.67 million, representing a 94.3% increase compared to the same period last year.

Following the earnings report, several financial institutions adjusted their outlooks for the company. Jefferies Financial Group and TD Cowen both issued buy ratings and raised their price targets, while Wolfe Research and Robert W. Baird maintained outperform ratings. Conversely, Weiss Ratings downgraded the stock from a hold to a sell.

The company has established its fiscal year 2027 guidance with an expected EPS range of $1.26 to $1.40.