The 10-second takeaway
For the quarter ended June 29 (Q2), Astronics missed estimates on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue grew. GAAP earnings per share shrank.
Gross margins increased, operating margins dropped, net margins dropped.
Astronics logged revenue of $70.8 million. The five analysts polled by S&P Capital IQ predicted revenue of $75.2 million on the same basis. GAAP reported sales were 9.0% higher than the prior-year quarter's $65.0 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures are normalized by S&P Capital IQ and may vary to maintain comparability with normalized estimates.
EPS came in at $0.34. The five earnings estimates compiled by S&P Capital IQ predicted $0.44 per share. GAAP EPS of $0.34 for Q2 were 13% lower than the prior-year quarter's $0.39 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures are normalized by S&P Capital IQ and may vary to maintain comparability with normalized estimates.
For the quarter, gross margin was 26.4%, 20 basis points better than the prior-year quarter. Operating margin was 11.3%, 70 basis points worse than the prior-year quarter. Net margin was 7.3%, 70 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $88.8 million. On the bottom line, the average EPS estimate is $0.48.
Next year's average estimate for revenue is $327.5 million. The average EPS estimate is $1.99.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 302 members out of 316 rating the stock outperform, and 14 members rating it underperform. Among 67 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 64 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 $45.00.
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