MEMC Electronic Materials Beats on the Top Line
MEMC Electronic Materials (NYS: WFR) reported earnings on May 9. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended March 31 (Q1), MEMC Electronic Materials beat expectations on revenues and missed expectations on earnings per share.
Compared with the prior-year quarter, revenue shrank significantly and GAAP loss per share grew.
Margins contracted across the board.
MEMC Electronic Materials recorded revenue of $523.8 million. The 16 analysts polled by S&P Capital IQ expected to see revenue of $496.1 million on the same basis. GAAP reported sales were 29% lower than the prior-year quarter's $735.9 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 -$0.26. The 21 earnings estimates compiled by S&P Capital IQ averaged -$0.16 per share. GAAP EPS were -$0.40 for Q1 against -$0.02 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 10.9%, 580 basis points worse than the prior-year quarter. Operating margin was -9.3%, 1,240 basis points worse than the prior-year quarter. Net margin was -17.7%, 1,710 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $679.7 million. On the bottom line, the average EPS estimate is -$0.01.
Next year's average estimate for revenue is $2.74 billion. The average EPS estimate is $0.09.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 1,833 members out of 1,902 rating the stock outperform, and 70 members rating it underperform. Among 380 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 363 give MEMC Electronic Materials a green thumbs-up, and 17 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on MEMC Electronic Materials is hold, with an average price target of $6.08.
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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. He is the 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 don't 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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