Ferro (NYSE: FOE ) reported earnings on July 31. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended June 30 (Q2), Ferro met expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue dropped. Non-GAAP earnings per share grew significantly. GAAP loss per share dropped.
Gross margins increased, operating margins were steady, net margins dropped.
Ferro notched revenue of $435.5 million. The six analysts polled by S&P Capital IQ predicted revenue of $441.5 million on the same basis. GAAP reported sales were 9.6% lower than the prior-year quarter's $481.5 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures are normalized by S&P Capital IQ and may vary to maintain comparability with normalized estimates.
EPS came in at $0.14. The nine earnings estimates compiled by S&P Capital IQ predicted $0.11 per share. Non-GAAP EPS of $0.14 for Q2 were 180% higher than the prior-year quarter's $0.05 per share. GAAP EPS were -$0.02 for Q2 versus -$0.03 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures are normalized by S&P Capital IQ and may vary to maintain comparability with normalized estimates.
For the quarter, gross margin was 20.1%, 170 basis points better than the prior-year quarter. Operating margin was 5.4%, much about the same as the prior-year quarter. Net margin was -0.5%, 140 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $413.2 million. On the bottom line, the average EPS estimate is $0.09.
Next year's average estimate for revenue is $1.67 billion. The average EPS estimate is $0.36.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 134 members out of 153 rating the stock outperform, and 19 members rating it underperform. Among 55 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 53 give Ferro a green thumbs-up, and two give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Ferro is hold, with an average price target of $7.50.
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