The 10-second takeaway
For the quarter ended March 30 (Q1), Astronics beat expectations on revenues and crushed expectations on earnings per share.
Compared to the prior-year quarter, revenue increased. GAAP earnings per share grew significantly.
Gross margins contracted, operating margins grew, net margins expanded.
Astronics booked revenue of $74.0 million. The four analysts polled by S&P Capital IQ wanted to see a top line of $69.4 million on the same basis. GAAP reported sales were 14% higher than the prior-year quarter's $65.1 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 $0.56. The four earnings estimates compiled by S&P Capital IQ predicted $0.42 per share. GAAP EPS of $0.56 for Q1 were 40% higher than the prior-year quarter's $0.40 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 27.3%, 50 basis points worse than the prior-year quarter. Operating margin was 15.0%, 80 basis points better than the prior-year quarter. Net margin was 11.6%, 220 basis points better than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $73.0 million. On the bottom line, the average EPS estimate is $0.42.
Next year's average estimate for revenue is $300.4 million. The average EPS estimate is $1.78.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 294 members out of 308 rating the stock outperform, and 14 members rating it underperform. Among 61 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 58 give Astronics a green thumbs-up, and three give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Astronics is buy, with an average price target of $34.00.
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