The 10-second takeaway
For the quarter ended Sep. 30 (Q3), CIRCOR International met expectations on revenues and crushed expectations on earnings per share.
Compared to the prior-year quarter, revenue was unchanged and GAAP earnings per share dropped significantly.
Gross margins grew, operating margins increased, net margins shrank.
CIRCOR International chalked up revenue of $209.8 million. The seven analysts polled by S&P Capital IQ predicted revenue of $208.3 million on the same basis. GAAP reported sales were 0.1% lower than the prior-year quarter's $210.0 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 $0.76. The six earnings estimates compiled by S&P Capital IQ forecast $0.57 per share. GAAP EPS of $0.11 for Q3 were 83% lower than the prior-year quarter's $0.63 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 28.0%, 170 basis points better than the prior-year quarter. Operating margin was 6.9%, 20 basis points better than the prior-year quarter. Net margin was 0.9%, 430 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $220.9 million. On the bottom line, the average EPS estimate is $0.66.
Next year's average estimate for revenue is $863.3 million. The average EPS estimate is $2.36.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 135 members out of 140 rating the stock outperform, and five members rating it underperform. Among 37 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 35 give CIRCOR International 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 CIRCOR International is outperform, with an average price target of $41.20.
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