The 10-second takeaway
For the quarter ended March 31 (Q1), Diodes met expectations on revenue and met expectations on earnings per share.
Compared to the prior-year quarter, revenue dropped and GAAP earnings per share dropped significantly.
Margins dropped across the board.
Diodes notched revenue of $144.7 million. The nine analysts polled by S&P Capital IQ foresaw revenue of $143.9 million on the same basis. GAAP reported sales were 10% lower than the prior-year quarter's $161.6 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 $0.09. The six earnings estimates compiled by S&P Capital IQ predicted $0.09 per share. GAAP EPS of $0.10 for Q1 were 76% lower than the prior-year quarter's $0.42 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 23.3%, 1,220 basis points worse than the prior-year quarter. Operating margin was 2.3%, 1,520 basis points worse than the prior-year quarter. Net margin was 3.4%, 880 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $156.3 million. On the bottom line, the average EPS estimate is $0.21.
Next year's average estimate for revenue is $657.4 million. The average EPS estimate is $0.97.
The stock has a two-star rating (out of five) at Motley Fool CAPS, with 217 members out of 233 rating the stock outperform, and 16 members rating it underperform. Among 65 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 63 give Diodes a green thumbs-up, and two give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Diodes is outperform, with an average price target of $28.29.
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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.