The 10-second takeaway
For the quarter ended Sep. 30 (Q2), Alliant Techsystems beat expectations on revenues and crushed expectations on earnings per share.
Compared to the prior-year quarter, revenue contracted and GAAP earnings per share dropped significantly.
Margins shrank across the board.
Alliant Techsystems notched revenue of $1.07 billion. The 11 analysts polled by S&P Capital IQ expected net sales of $990.1 million on the same basis. GAAP reported sales were 3.6% lower than the prior-year quarter's $1.11 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 $1.86. The nine earnings estimates compiled by S&P Capital IQ averaged $1.45 per share. GAAP EPS of $2.00 for Q2 were 18% lower than the prior-year quarter's $2.43 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 21.3%, 220 basis points worse than the prior-year quarter. Operating margin was 10.3%, 300 basis points worse than the prior-year quarter. Net margin was 6.1%, 110 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $992.6 million. On the bottom line, the average EPS estimate is $1.67.
Next year's average estimate for revenue is $4.14 billion. The average EPS estimate is $7.10.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Alliant Techsystems is hold, with an average price target of $57.09.
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