The 10-second takeaway
For the quarter ended March 31 (Q1), AstraZeneca missed estimates on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue dropped and GAAP earnings per share contracted significantly.
Margins shrank across the board.
AstraZeneca booked revenue of $7.35 billion. The 18 analysts polled by S&P Capital IQ predicted revenue of $7.94 billion on the same basis. GAAP reported sales were 11% lower than the prior-year quarter's $8.29 billion.
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 $1.81. The 12 earnings estimates compiled by S&P Capital IQ predicted $1.75 per share. GAAP EPS of $1.28 for Q1 were 38% lower than the prior-year quarter's $2.07 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 82.0%, 200 basis points worse than the prior-year quarter. Operating margin was 39.6%, 310 basis points worse than the prior-year quarter. Net margin was 22.3%, 1,280 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $7.47 billion. On the bottom line, the average EPS estimate is $1.56.
Next year's average estimate for revenue is $29.68 billion. The average EPS estimate is $6.14.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 40 members out of 46 rating the stock outperform, and six members rating it underperform. Among one CAPS All-Star picks (recommendations by the highest-ranked CAPS members), one give AstraZeneca a green thumbs-up, and give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on AstraZeneca is hold, with an average price target of $48.33.
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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.