Astronics
The 10-second takeaway
For the quarter ended Sep. 29 (Q3), Astronics beat expectations on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue grew significantly and GAAP earnings per share dropped significantly.
Margins dropped across the board.
Revenue details
Astronics recorded revenue of $68.9 million. The six analysts polled by S&P Capital IQ predicted net sales of $67.2 million on the same basis. GAAP reported sales were 22% higher than the prior-year quarter's $56.4 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS details
EPS came in at $0.33. The five earnings estimates compiled by S&P Capital IQ predicted $0.44 per share. GAAP EPS of $0.33 for Q3 were 37% lower than the prior-year quarter's $0.52 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
Margin details
For the quarter, gross margin was 24.3%, 100 basis points worse than the prior-year quarter. Operating margin was 11.1%, 290 basis points worse than the prior-year quarter. Net margin was 7.2%, 460 basis points worse than the prior-year quarter.
Looking ahead
Next quarter's average estimate for revenue is $70.2 million. On the bottom line, the average EPS estimate is $0.46.
Next year's average estimate for revenue is $268.0 million. The average EPS estimate is $1.73.
Investor sentiment
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 298 members out of 312 rating the stock outperform, and 14 members rating it underperform. Among 61 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 57 give Astronics a green thumbs-up, and four give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Astronics is outperform, with an average price target of $39.67.
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