Texas Industries Increases Sales but Misses Estimates on Earnings
Texas Industries (NYS: TXI) reported earnings on March 28. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended Feb. 29 (Q3), Texas Industries beat slightly on revenues and missed expectations on earnings per share.
Compared to the prior-year quarter, revenue increased and GAAP loss per share improved.
Gross margins expanded, operating margins grew, net margins shrank.
Texas Industries booked revenue of $134.6 million. The nine analysts polled by S&P Capital IQ foresaw revenue of $132.8 million on the same basis. GAAP reported sales were 7.0% higher than the prior-year quarter's $125.8 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 -$0.87. The 11 earnings estimates compiled by S&P Capital IQ predicted -$0.81 per share. GAAP EPS were -$0.87 for Q3 compared to -$0.75 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 0.6%, 800 basis points better than the prior-year quarter. Operating margin was -13.1%, 810 basis points better than the prior-year quarter. Net margin was -18.0%, 140 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $183.5 million. On the bottom line, the average EPS estimate is -$0.30.
Next year's average estimate for revenue is $655.0 million. The average EPS estimate is -$2.05.
The stock has a one-star rating (out of five) at Motley Fool CAPS, with 104 members out of 127 rating the stock outperform, and 23 members rating it underperform. Among 42 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 34 give Texas Industries a green thumbs-up, and eight give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Texas Industries is hold, with an average price target of $31.43.
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At the time this article was published Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor ofMotley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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