Wesco Aircraft Holdings
The 10-second takeaway
For the quarter ended March 31 (Q2), Wesco Aircraft Holdings beat expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue increased significantly. Non-GAAP earnings per share grew significantly. GAAP earnings per share increased significantly.
Margins increased across the board.
Wesco Aircraft Holdings chalked up revenue of $225.9 million. The 10 analysts polled by S&P Capital IQ expected revenue of $213.5 million on the same basis. GAAP reported sales were 24% higher than the prior-year quarter's $182.1 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 $0.34. The 10 earnings estimates compiled by S&P Capital IQ predicted $0.27 per share. Non-GAAP EPS of $0.34 for Q2 were 62% higher than the prior-year quarter's $0.21 per share. GAAP EPS of $0.31 for Q2 were 48% higher than the prior-year quarter's $0.21 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 36.0%, 80 basis points better than the prior-year quarter. Operating margin was 20.5%, 50 basis points better than the prior-year quarter. Net margin was 13.0%, 220 basis points better than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $223.0 million. On the bottom line, the average EPS estimate is $0.30.
Next year's average estimate for revenue is $884.2 million. The average EPS estimate is $1.14.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Wesco Aircraft Holdings is hold, with an average price target of $16.13.
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