The 10-second takeaway
For the quarter ended June 30 (Q2), PerkinElmer beat expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue expanded slightly. Non-GAAP earnings per share dropped. GAAP earnings per share shrank.
Gross margins shrank, operating margins grew, net margins dropped.
PerkinElmer booked revenue of $547.1 million. The 13 analysts polled by S&P Capital IQ expected sales of $532.9 million on the same basis. GAAP reported sales were 4.1% higher than the prior-year quarter's $521.8 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 $0.51. The 15 earnings estimates compiled by S&P Capital IQ anticipated $0.48 per share. Non-GAAP EPS of $0.51 for Q2 were 3.8% lower than the prior-year quarter's $0.53 per share. GAAP EPS of $0.25 for Q2 were 14% lower than the prior-year quarter's $0.29 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 44.6%, 120 basis points worse than the prior-year quarter. Operating margin was 10.8%, 10 basis points better than the prior-year quarter. Net margin was 5.1%, 130 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $524.6 million. On the bottom line, the average EPS estimate is $0.49.
Next year's average estimate for revenue is $2.16 billion. The average EPS estimate is $2.05.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 112 members out of 126 rating the stock outperform, and 14 members rating it underperform. Among 42 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 39 give PerkinElmer 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 PerkinElmer is outperform, with an average price target of $35.33.
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