The 10-second takeaway
For the quarter ended Dec. 31 (Q1), Haynes International met expectations on revenues and beat slightly on earnings per share.
Compared to the prior-year quarter, revenue dropped and GAAP earnings per share dropped significantly.
Margins dropped across the board.
Haynes International booked revenue of $114.3 million. The three analysts polled by S&P Capital IQ wanted to see sales of $114.3 million on the same basis. GAAP reported sales were 11% lower than the prior-year quarter's $128.9 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 $0.47. The four earnings estimates compiled by S&P Capital IQ averaged $0.46 per share. GAAP EPS of $0.47 for Q1 were 31% lower than the prior-year quarter's $0.68 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 16.4%, 180 basis points worse than the prior-year quarter. Operating margin was 7.1%, 290 basis points worse than the prior-year quarter. Net margin was 5.1%, 150 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $139.9 million. On the bottom line, the average EPS estimate is $0.78.
Next year's average estimate for revenue is $545.4 million. The average EPS estimate is $3.37.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 213 members out of 226 rating the stock outperform, and 13 members rating it underperform. Among 61 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 60 give Haynes International a green thumbs-up, and one give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Haynes International is outperform, with an average price target of $67.60.
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