The 10-second takeaway
For the quarter ended Dec. 31 (Q4), Astronics beat expectations on revenues and earnings per share.
Compared to the prior-year quarter, revenue expanded significantly and GAAP earnings per share improved significantly.
Gross margins improved, operating margins grew, and net margins dropped.
Astronics recorded revenue of $61.2 million. The three analysts polled by S&P Capital IQ looked for revenue of $55.6 million. Sales were 18% higher than the prior-year quarter's $51.8 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions.
Non-GAAP EPS came in at $0.53. The three earnings estimates compiled by S&P Capital IQ averaged $0.41 per share on the same basis. GAAP EPS of $0.40 for Q4 were 18% higher than the prior-year quarter's $0.34 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 28.4%, 440 basis points better than the prior-year quarter. Operating margin was 16.4%, 400 basis points better than the prior-year quarter. Net margin was 8.5%, 10 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $59.8 million. On the bottom line, the average EPS estimate is $0.44.
Next year's average estimate for revenue is $244.7 million. The average EPS estimate is $1.83.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 302 members out of 315 rating the stock outperform, and 13 members rating it underperform. Among 85 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 82 give Astronics 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 Astronics is outperform, with an average price target of $35.50.
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Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.