The 10-second takeaway
For the quarter ended March 30 (Q1), Polypore International missed estimates on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue dropped. Non-GAAP earnings per share dropped significantly. GAAP earnings per share dropped significantly.
Margins dropped across the board.
Polypore International booked revenue of $163.5 million. The 11 analysts polled by S&P Capital IQ expected revenue of $176.1 million on the same basis. GAAP reported sales were 5.9% lower than the prior-year quarter's $173.7 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 $0.27. The 10 earnings estimates compiled by S&P Capital IQ averaged $0.40 per share. Non-GAAP EPS of $0.27 for Q1 were 43% lower than the prior-year quarter's $0.47 per share. GAAP EPS of $0.19 for Q1 were 53% lower than the prior-year quarter's $0.40 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 33.5%, 740 basis points worse than the prior-year quarter. Operating margin was 14.3%, 710 basis points worse than the prior-year quarter. Net margin was 5.5%, 530 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $180.6 million. On the bottom line, the average EPS estimate is $0.39.
Next year's average estimate for revenue is $719.1 million. The average EPS estimate is $1.48.
The stock has a two-star rating (out of five) at Motley Fool CAPS, with 217 members out of 247 rating the stock outperform, and 30 members rating it underperform. Among 53 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 46 give Polypore International a green thumbs-up, and seven give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Polypore International is outperform, with an average price target of $40.63.
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