The 10-second takeaway
For the quarter ended Sep. 30 (Q2), Exide Technologies missed estimates on revenues and missed expectations on earnings per share.
Compared to the prior-year quarter, revenue dropped and GAAP loss per share grew.
Margins shrank across the board.
Exide Technologies notched revenue of $711.7 million. The seven analysts polled by S&P Capital IQ predicted revenue of $765.8 million on the same basis. GAAP reported sales were 7.9% lower than the prior-year quarter's $773.0 million.
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 -$0.17. The five earnings estimates compiled by S&P Capital IQ anticipated $0.02 per share. GAAP EPS were -$0.18 for Q2 compared to -$0.05 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 14.6%, 70 basis points worse than the prior-year quarter. Operating margin was 1.1%, 180 basis points worse than the prior-year quarter. Net margin was -2.0%, 150 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $806.1 million. On the bottom line, the average EPS estimate is $0.18.
Next year's average estimate for revenue is $3.08 billion. The average EPS estimate is $0.17.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 409 members out of 423 rating the stock outperform, and 14 members rating it underperform. Among 82 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 77 give Exide Technologies a green thumbs-up, and five give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Exide Technologies is outperform, with an average price target of $4.10.
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