The 10-second takeaway
For the quarter ended March 31 (Q1), Diodes met expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue expanded significantly. Non-GAAP earnings per share grew significantly. GAAP earnings per share dropped to a loss.
Gross margins increased, operating margins dropped, net margins contracted.
Diodes logged revenue of $177.0 million. The 10 analysts polled by S&P Capital IQ hoped for revenue of $176.4 million on the same basis. GAAP reported sales were 22% higher than the prior-year quarter's $144.7 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 $0.16. The eight earnings estimates compiled by S&P Capital IQ predicted $0.07 per share. Non-GAAP EPS of $0.16 for Q1 were 78% higher than the prior-year quarter's $0.09 per share. GAAP EPS were -$0.04 for Q1 versus $0.10 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 26.1%, 280 basis points better than the prior-year quarter. Operating margin was 2.2%, 160 basis points worse than the prior-year quarter. Net margin was -1.1%, 450 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $209.8 million. On the bottom line, the average EPS estimate is $0.20.
Next year's average estimate for revenue is $840.4 million. The average EPS estimate is $0.98.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 213 members out of 228 rating the stock outperform, and 15 members rating it underperform. Among 57 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 54 give Diodes a green thumbs-up, and three give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Diodes is outperform, with an average price target of $25.57.
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