Esterline Technologies Misses on Both Revenue and Earnings
Esterline Technologies (NYS: ESL) reported earnings on May 31. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended April 27 (Q2), Esterline Technologies missed estimates on revenues and earnings per share.
Compared to the prior-year quarter, revenue grew significantly and GAAP earnings per share dropped slightly.
Margins dropped across the board.
Esterline Technologies reported revenue of $504.8 million. The 10 analysts polled by S&P Capital IQ expected revenue of $515.2 million on the same basis. GAAP reported sales were 16% higher than the prior-year quarter's $435.3 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 $1.29. The seven earnings estimates compiled by S&P Capital IQ averaged $1.31 per share. GAAP EPS of $1.44 for Q2 were 2.0% lower than the prior-year quarter's $1.47 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 36.6%, 40 basis points worse than the prior-year quarter. Operating margin was 11.1%, 440 basis points worse than the prior-year quarter. Net margin was 9.0%, 150 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $521.9 million. On the bottom line, the average EPS estimate is $1.54.
Next year's average estimate for revenue is $2.06 billion. The average EPS estimate is $5.46.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 150 members out of 158 rating the stock outperform, and eight members rating it underperform. Among 50 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 48 give Esterline Technologies a green thumbs-up, and two give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Esterline Technologies is outperform, with an average price target of $78.22.
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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.