The 10-second takeaway
For the quarter ended March 3 (Q1), CLARCOR missed estimates on both revenue and earnings per share.
Compared to the prior-year quarter, revenue expanded and GAAP EPS increased.
Margins grew across the board.
CLARCOR recorded revenue of $257.3 million. The five analysts polled by S&P Capital IQ predicted revenue of $266.7 million on the same basis. GAAP reported sales were 4.7% higher than the prior-year quarter's $245.7 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 $0.46. The six earnings estimates compiled by S&P Capital IQ forecast $0.47 per share. GAAP EPS of $0.46 for Q1 were 7.0% higher than the prior-year quarter's $0.43 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%, 60 basis points better than the prior-year quarter. Operating margin was 13.3%, 60 basis points better than the prior-year quarter. Net margin was 9.1%, 20 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $308.0 million. On the bottom line, the average EPS estimate is $0.71.
Next year's average estimate for revenue is $1.21 billion. The average EPS estimate is $2.68.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on CLARCOR is outperform, with an average price target of $55.50.
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