The 10-second takeaway
For the quarter ended June 30 (Q2), Diodes met expectations on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue shrank and GAAP earnings per share dropped significantly.
Margins contracted across the board.
Diodes logged revenue of $159.2 million. The 11 analysts polled by S&P Capital IQ anticipated a top line of $159.6 million on the same basis. GAAP reported sales were 6.2% lower than the prior-year quarter's $169.8 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 $0.14. The 10 earnings estimates compiled by S&P Capital IQ forecast $0.19 per share. GAAP EPS of $0.14 for Q2 were 63% lower than the prior-year quarter's $0.38 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 25.8%, 700 basis points worse than the prior-year quarter. Operating margin was 4.4%, 1,050 basis points worse than the prior-year quarter. Net margin was 4.2%, 640 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $173.2 million. On the bottom line, the average EPS estimate is $0.32.
Next year's average estimate for revenue is $652.3 million. The average EPS estimate is $0.94.
The stock has a two-star rating (out of five) at Motley Fool CAPS, with 215 members out of 231 rating the stock outperform, and 16 members rating it underperform. Among 59 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 56 give Diodes 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 Diodes is outperform, with an average price target of $26.00.
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