The 10-second takeaway
For the quarter ended March 31 (Q1), Manitowoc met expectations on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue improved significantly and GAAP earnings per share grew to zero.
Gross margins dropped, operating margins increased, and net margins increased.
Manitowoc logged revenue of $860.1 million. The 11 analysts polled by S&P Capital IQ predicted revenue of $869.0 million on the same basis. GAAP reported sales were 17% higher than the prior-year quarter's $732.2 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 $0.01. The 16 earnings estimates compiled by S&P Capital IQ predicted $0.09 per share. GAAP EPS dropped to zero from the prior-year quarter's -$0.40.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 24.0%, 60 basis points worse than the prior-year quarter. Operating margin was 5.6%, 140 basis points better than the prior-year quarter. Net margin was 0.0%, 720 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $1.06 billion. On the bottom line, the average EPS estimate is $0.26.
Next year's average estimate for revenue is $4.09 billion. The average EPS estimate is $0.87.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 1,738 members out of 1,788 rating the stock outperform, and 50 members rating it underperform. Among 438 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 435 give Manitowoc 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 Manitowoc is outperform, with an average price target of $17.73.
Over the decades, small-cap stocks like Manitowoc have produced market-beating returns, provided they're value-priced and have solid businesses. Read about a pair of companies with a lock on their markets in "Too Small to Fail: 2 Small Caps the Government Won't Let Go Broke." Click here for instant access to this free report.
- Add Manitowoc to My Watchlist.
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.