Canon (NYS: CAJ) reported earnings on Oct. 26. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended Sep. 30 (Q3), Canon whiffed on revenues and whiffed on earnings per share.
Compared to the prior-year quarter, revenue dropped and GAAP earnings per share shrank significantly.
Margins dropped across the board.
Canon logged revenue of $10.27 billion. The eight analysts polled by S&P Capital IQ expected net sales of $11.58 billion on the same basis. GAAP reported sales were 14% lower than the prior-year quarter's $11.89 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 $0.55. The one earnings estimate compiled by S&P Capital IQ anticipated $0.72 per share. GAAP EPS of $0.55 for Q3 were 35% lower than the prior-year quarter's $0.84 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 48.3%, 110 basis points worse than the prior-year quarter. Operating margin was 8.9%, 450 basis points worse than the prior-year quarter. Net margin was 6.3%, 220 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $12.28 billion. On the bottom line, the average EPS estimate is $0.77.
Next year's average estimate for revenue is $45.36 billion. The average EPS estimate is $2.59.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 479 members out of 501 rating the stock outperform, and 22 members rating it underperform. Among 134 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 127 give Canon a green thumbs-up, and seven give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Canon is hold, with an average price target of $38.55.
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The article Canon Whiffs on Earnings originally appeared on Fool.com.
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