The 10-second takeaway
For the quarter ended March 31 (Q2), Haynes International beat slightly on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue dropped significantly. GAAP earnings per share dropped significantly.
Margins dropped across the board.
Haynes International tallied revenue of $129.2 million. The four analysts polled by S&P Capital IQ expected a top line of $127.1 million on the same basis. GAAP reported sales were 19% lower than the prior-year quarter's $158.9 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 $0.52. The five earnings estimates compiled by S&P Capital IQ averaged $0.55 per share. GAAP EPS of $0.52 for Q2 were 58% lower than the prior-year quarter's $1.23 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 15.5%, 620 basis points worse than the prior-year quarter. Operating margin was 7.6%, 690 basis points worse than the prior-year quarter. Net margin was 5.0%, 450 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $121.4 million. On the bottom line, the average EPS estimate is $0.47.
Next year's average estimate for revenue is $487.4 million. The average EPS estimate is $1.95.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 217 members out of 231 rating the stock outperform, and 14 members rating it underperform. Among 55 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 53 give Haynes International a green thumbs-up, and two 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 $65.80.
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