The 10-second takeaway
For the quarter ended June 30 (Q2), FLIR Systems beat expectations on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue grew significantly. GAAP earnings per share expanded significantly.
Gross margins shrank, operating margins contracted, net margins expanded.
FLIR Systems reported revenue of $389.3 million. The 10 analysts polled by S&P Capital IQ foresaw a top line of $364.9 million on the same basis. GAAP reported sales were 15% higher than the prior-year quarter's $338.3 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 $0.35. The 10 earnings estimates compiled by S&P Capital IQ averaged $0.37 per share. GAAP EPS of $0.35 for Q2 were 35% higher than the prior-year quarter's $0.26 per share. (The prior-year quarter included -$0.01 per share in earnings from discontinued operations.)
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 48.8%, 250 basis points worse than the prior-year quarter. Operating margin was 18.0%, 200 basis points worse than the prior-year quarter. Net margin was 12.9%, 80 basis points better than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $364.8 million. On the bottom line, the average EPS estimate is $0.40.
Next year's average estimate for revenue is $1.50 billion. The average EPS estimate is $1.64.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 775 members out of 801 rating the stock outperform, and 26 members rating it underperform. Among 150 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 148 give FLIR Systems 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 FLIR Systems is outperform, with an average price target of $29.94.
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