Cooper Industries Beats on Both Top and Bottom Lines
Cooper Industries (NYS: CBE) reported earnings yesterday. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended March 31 (Q1), Cooper Industries beat expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue improved and GAAP earnings per share contracted significantly.
Gross margins expanded, operating margins dropped, and net margins dropped.
Cooper Industries reported revenue of $1.40 billion. The 16 analysts polled by S&P Capital IQ wanted to see revenue of $1.36 billion on the same basis. GAAP reported sales were 9.9% higher than the prior-year quarter's $1.28 billion.
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 $1.06. The 19 earnings estimates compiled by S&P Capital IQ forecast $1.00 per share. GAAP EPS of $1.00 for Q1 were 52% lower than the prior-year quarter's $2.07 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 34.3%, 30 basis points better than the prior-year quarter. Operating margin was 14.0%, 30 basis points worse than the prior-year quarter. Net margin was 11.4%, 1,570 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $1.45 billion. On the bottom line, the average EPS estimate is $1.12.
Next year's average estimate for revenue is $5.77 billion. The average EPS estimate is $4.33.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 169 members rating the stock outperform and 18 members rating it underperform. Among 66 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 62 give Cooper Industries a green thumbs-up, and four give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Cooper Industries is outperform, with an average price target of $64.71.
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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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