The 10-second takeaway
For the quarter ended March 31 (Q1), MDC Holdings beat expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue increased significantly. GAAP earnings per share grew significantly.
Margins increased across the board.
MDC Holdings reported revenue of $344.3 million. The six analysts polled by S&P Capital IQ predicted net sales of $316.4 million on the same basis. GAAP reported sales were 77% higher than the prior-year quarter's $194.0 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 $0.45. The eight earnings estimates compiled by S&P Capital IQ predicted $0.26 per share. GAAP EPS of $0.45 for Q1 were much higher than the prior-year quarter's $0.04 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 19.0%, 300 basis points better than the prior-year quarter. Operating margin was 5.0%, 620 basis points better than the prior-year quarter. Net margin was 6.5%, 530 basis points better than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $377.8 million. On the bottom line, the average EPS estimate is $0.53.
Next year's average estimate for revenue is $1.63 billion. The average EPS estimate is $2.33.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 474 members out of 624 rating the stock outperform, and 150 members rating it underperform. Among 195 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 151 give MDC Holdings a green thumbs-up, and 44 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on MDC Holdings is hold, with an average price target of $36.70.
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