Panasonic Goes Negative
Panasonic (NYS: PC) reported earnings on Feb. 3. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended Dec. 31 (Q3), Panasonic met expectations on revenues and missed expectations on earnings per share.
Compared to the prior-year quarter, revenue improved slightly and GAAP earnings per share dropped to a loss.
Margins contracted across the board.
Panasonic reported revenue of $26.92 billion. The six analysts polled by S&P Capital IQ looked for revenue of $27.11 billion. Sales were 9.6% lower than the prior-year quarter's $26.41 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions.
Non-GAAP EPS came in at -$0.59. The one earnings estimate compiled by S&P Capital IQ anticipated $0.12 per share on the same basis. GAAP EPS were -$1.11 for Q2 versus $0.24 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Figures may be non-GAAP to maintain comparability with estimates.
For the quarter, gross margin was 24.1%, 190 basis points worse than the prior-year quarter. Operating margin was -0.4%, 460 basis points worse than the prior-year quarter. Net margin was -10.1%, 1,180 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $27.06 billion. On the bottom line, the average EPS estimate is -$0.68.
Next year's average estimate for revenue is $106.93 billion. The average EPS estimate is -$2.62.
The stock has a two-star rating (out of five) at Motley Fool CAPS, with 237 members out of 262 rating the stock outperform, and 25 members rating it underperform. Among 57 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 53 give Panasonic 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 Panasonic is hold, with an average price target of $11.96.
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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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