The 10-second takeaway
For the quarter ended Sep. 30 (Q3), Vectren missed slightly on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue dropped and GAAP earnings per share grew.
Gross margins expanded, operating margins dropped, net margins grew.
Vectren logged revenue of $513.5 million. The three analysts polled by S&P Capital IQ wanted to see net sales of $522.2 million on the same basis. GAAP reported sales were 4.8% lower than the prior-year quarter's $539.4 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 $0.48. The six earnings estimates compiled by S&P Capital IQ forecast $0.33 per share. GAAP EPS of $0.48 for Q3 were 12% higher than the prior-year quarter's $0.43 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 68.5%, 380 basis points better than the prior-year quarter. Operating margin was 15.9%, 150 basis points worse than the prior-year quarter. Net margin was 7.7%, 120 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $608.1 million. On the bottom line, the average EPS estimate is $0.49.
Next year's average estimate for revenue is $2.24 billion. The average EPS estimate is $1.73.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 88 members out of 92 rating the stock outperform, and four members rating it underperform. Among 24 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 24 give Vectren a green thumbs-up, and give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Vectren is hold, with an average price target of $31.00.
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