The 10-second takeaway
For the quarter ended March 31 (Q1), LMI Aerospace met expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue expanded and GAAP earnings per share increased.
Gross margins improved, operating margins dropped, net margins increased.
LMI Aerospace booked revenue of $66.7 million. The three analysts polled by S&P Capital IQ wanted to see a top line of $67.4 million on the same basis. GAAP reported sales were 9.6% higher than the prior-year quarter's $60.9 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 $0.41. The three earnings estimates compiled by S&P Capital IQ averaged $0.39 per share. GAAP EPS of $0.41 for Q1 were 11% higher than the prior-year quarter's $0.37 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 24.7%, 80 basis points better than the prior-year quarter. Operating margin was 11.1%, 50 basis points worse than the prior-year quarter. Net margin was 7.2%, 20 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $70.2 million. On the bottom line, the average EPS estimate is $0.44.
Next year's average estimate for revenue is $288.6 million. The average EPS estimate is $1.87.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 129 members out of 135 rating the stock outperform, and six members rating it underperform. Among 25 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 24 give LMI Aerospace a green thumbs-up, and one gives it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on LMI Aerospace is buy, with an average price target of $26.33.
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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.