The 10-second takeaway
For the quarter ended March 31 (Q1), LMI Aerospace missed slightly on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue grew significantly. Non-GAAP earnings per share shrank significantly. GAAP earnings per share shrank significantly.
Margins dropped across the board.
LMI Aerospace chalked up revenue of $106.1 million. The four analysts polled by S&P Capital IQ hoped for revenue of $107.9 million on the same basis. GAAP reported sales were 59% higher than the prior-year quarter's $66.7 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 $0.30. The four earnings estimates compiled by S&P Capital IQ anticipated $0.33 per share. Non-GAAP EPS of $0.30 for Q1 were 27% lower than the prior-year quarter's $0.41 per share. GAAP EPS of $0.14 for Q1 were 66% lower than the prior-year quarter's $0.41 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 18.9%, 580 basis points worse than the prior-year quarter. Operating margin was 5.7%, 540 basis points worse than the prior-year quarter. Net margin was 1.7%, 550 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $115.3 million. On the bottom line, the average EPS estimate is $0.44.
Next year's average estimate for revenue is $477.3 million. The average EPS estimate is $2.03.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 123 members out of 130 rating the stock outperform, and seven members rating it underperform. Among 23 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 21 give LMI Aerospace 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 LMI Aerospace is buy, with an average price target of $29.00.
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