The 10-second takeaway
For the quarter ended March 31 (Q1), CIRCOR International met expectations on revenues and beat slightly on earnings per share.
Compared to the prior-year quarter, revenue shrank. Non-GAAP earnings per share increased. GAAP earnings per share contracted.
Gross margins expanded, operating margins expanded, net margins dropped.
CIRCOR International logged revenue of $205.4 million. The seven analysts polled by S&P Capital IQ expected revenue of $204.3 million on the same basis. GAAP reported sales were the same as the prior-year quarter's.
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 $0.52. The seven earnings estimates compiled by S&P Capital IQ anticipated $0.51 per share. Non-GAAP EPS of $0.52 for Q1 were 6.1% higher than the prior-year quarter's $0.49 per share. GAAP EPS of $0.45 for Q1 were 8.2% lower than the prior-year quarter's $0.49 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 29.1%, 170 basis points better than the prior-year quarter. Operating margin was 7.0%, 60 basis points better than the prior-year quarter. Net margin was 3.9%, 10 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $217.3 million. On the bottom line, the average EPS estimate is $0.66.
Next year's average estimate for revenue is $860.6 million. The average EPS estimate is $2.63.
The stock has a two-star rating (out of five) at Motley Fool CAPS, with 136 members out of 143 rating the stock outperform, and seven members rating it underperform. Among 40 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 36 give CIRCOR International a green thumbs-up, and four give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on CIRCOR International is outperform, with an average price target of $46.75.
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