The 10-second takeaway
For the quarter ended Sep. 29 (Q3), Polypore International beat slightly 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 contracted across the board.
Polypore International chalked up revenue of $177.6 million. The 10 analysts polled by S&P Capital IQ expected a top line of $174.2 million on the same basis. GAAP reported sales were 6.6% lower than the prior-year quarter's $190.1 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 $0.37. The 10 earnings estimates compiled by S&P Capital IQ forecast $0.34 per share. GAAP EPS of $0.30 for Q3 were 40% lower than the prior-year quarter's $0.50 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 33.3%, 720 basis points worse than the prior-year quarter. Operating margin was 16.7%, 640 basis points worse than the prior-year quarter. Net margin was 8.0%, 440 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $196.9 million. On the bottom line, the average EPS estimate is $0.54.
Next year's average estimate for revenue is $731.6 million. The average EPS estimate is $1.86.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 229 members out of 256 rating the stock outperform, and 27 members rating it underperform. Among 55 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 47 give Polypore International a green thumbs-up, and eight give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Polypore International is outperform, with an average price target of $41.10.
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