Vectren Beats on Both Top and Bottom Lines
Aug 1st 2013 12:53PM
Updated Aug 1st 2013 12:58PM
Vectren (NYS: VVC) reported earnings on July 31. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended June 30 (Q2), Vectren beat expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue increased. Non-GAAP earnings per share expanded. GAAP earnings per share contracted to a loss.
Margins dropped across the board.
Vectren recorded revenue of $531.0 million. The three analysts polled by S&P Capital IQ expected revenue of $509.1 million on the same basis. GAAP reported sales were 13% higher than the prior-year quarter's $470.6 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures are normalized by S&P Capital IQ and may vary to maintain comparability with normalized estimates.
EPS came in at $0.33. The seven earnings estimates compiled by S&P Capital IQ forecast $0.29 per share. Non-GAAP EPS of $0.33 for Q2 were 6.5% higher than the prior-year quarter's $0.31 per share. GAAP EPS were -$0.07 for Q2 against $0.31 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures are normalized by S&P Capital IQ and may vary to maintain comparability with normalized estimates.
For the quarter, gross margin was 65.7%, 530 basis points worse than the prior-year quarter. Operating margin was 10.9%, 400 basis points worse than the prior-year quarter. Net margin was -1.1%, 650 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $542.2 million. On the bottom line, the average EPS estimate is $0.49.
Next year's average estimate for revenue is $2.35 billion. The average EPS estimate is $1.98.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 90 members out of 95 rating the stock outperform, and five members rating it underperform. Among 26 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 24 give Vectren 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 Vectren is outperform, with an average price target of $36.80.
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The article Vectren Beats on Both Top and Bottom Lines originally appeared on Fool.com.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 of Motley Fool Hidden Gems, which provides new small-cap ideas every month. The Motley Fool has no position in any of the stocks mentioned. 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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