Harman International Industries
The 10-second takeaway
For the quarter ended Sep. 30 (Q1), Harman International Industries missed estimates on revenues and met expectations on earnings per share.
Compared to the prior-year quarter, revenue contracted and GAAP earnings per share expanded significantly.
Margins grew across the board.
Harman International Industries tallied revenue of $998.2 million. The four analysts polled by S&P Capital IQ wanted to see a top line of $1.08 billion on the same basis. GAAP reported sales were 5.0% lower than the prior-year quarter's $1.05 billion.
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 $0.79. The five earnings estimates compiled by S&P Capital IQ forecast $0.78 per share. GAAP EPS of $0.79 for Q1 were 18% higher than the prior-year quarter's $0.67 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 27.9%, 40 basis points better than the prior-year quarter. Operating margin was 7.9%, 60 basis points better than the prior-year quarter. Net margin was 5.5%, 90 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $1.16 billion. On the bottom line, the average EPS estimate is $1.06.
Next year's average estimate for revenue is $4.51 billion. The average EPS estimate is $3.77.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 168 members out of 184 rating the stock outperform, and 16 members rating it underperform. Among 49 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 46 give Harman International Industries 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 Harman International Industries is hold, with an average price target of $56.00.
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