The 10-second takeaway
For the quarter ended Sep. 30 (Q2), Panasonic missed estimates on revenues and missed expectations on earnings per share.
Compared to the prior-year quarter, revenue contracted and GAAP loss per share increased.
Gross margins dropped, operating margins expanded, net margins dropped.
Panasonic reported revenue of $23.41 billion. The five analysts polled by S&P Capital IQ expected revenue of $25.29 billion on the same basis. GAAP reported sales were 13% lower than the prior-year quarter's $26.92 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at -$3.78. The one earnings estimate compiled by S&P Capital IQ anticipated $0.07 per share. GAAP EPS were -$3.88 for Q2 versus -$0.59 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 25.5%, 40 basis points worse than the prior-year quarter. Operating margin was 2.7%, 70 basis points better than the prior-year quarter. Net margin was -38.3%, 3,320 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $24.56 billion. On the bottom line, the average EPS estimate is $0.08.
Next year's average estimate for revenue is $95.88 billion. The average EPS estimate is $0.27.
The stock has a two-star rating (out of five) at Motley Fool CAPS, with 240 members out of 271 rating the stock outperform, and 31 members rating it underperform. Among 58 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 49 give Panasonic a green thumbs-up, and nine give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Panasonic is outperform, with an average price target of $10.05.
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