MWI Veterinary Supply
The 10-second takeaway
For the quarter ended Dec. 31 (Q1), MWI Veterinary Supply beat expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue improved significantly, and GAAP earnings per share grew significantly.
Margins dropped across the board.
MWI Veterinary Supply booked revenue of $461.9 million. The six analysts polled by S&P Capital IQ anticipated a top line of $441.6 million. Sales were 26% higher than the prior-year quarter's $366.2 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions.
Non-GAAP EPS came in at $1.06. The seven earnings estimates compiled by S&P Capital IQ predicted $0.93 per share on the same basis. GAAP EPS of $1.05 for Q1 were 21% higher than the prior-year quarter's $0.87 per share.
Source: S&P Capital IQ. Quarterly periods. Figures may be non-GAAP to maintain comparability with estimates.
For the quarter, gross margin was 13.5%, 20 basis points worse than the prior-year quarter. Operating margin was 4.6%, 20 basis points worse than the prior-year quarter. Net margin was 2.9%, 10 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $455.4 million. On the bottom line, the average EPS estimate is $0.94.
Next year's average estimate for revenue is $1.90 billion. The average EPS estimate is $3.86.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 103 members rating the stock outperform, and five members rating it underperform. Among 33 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 32 give MWI Veterinary Supply a green thumbs-up, and one give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on MWI Veterinary Supply is outperform, with an average price target of $83.33.
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