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Maxwell (MXWL) Posts In-Line Q1 Loss, Revenues Top Estimates
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Maxwell Technologies, Inc. incurred adjusted loss of 27 cents per share in the first quarter of 2017 (considering stock-based compensation as a regular expense), which were in line with the Zacks Consensus Estimate. On a year-over-year basis, the quarterly loss widened from the year-ago loss of 18 cents per share.
Excluding one-time items, the company reported loss of 32 cents per share, substantially wider than a loss of 22 cents incurred in the prior-year quarter.
Maxwell Technologies, Inc. Price, Consensus and EPS Surprise
Maxwell Technologies’ first-quarter revenues of $26.7 million surpassed the Zacks Consensus Estimate of $25.2 million by 5.9%. However, revenues plunged 24.2% from the year-ago figure of $35.2 million. High voltage revenues grew 52.3% in the first quarter, whereas ultracapacitor revenues declined 39.5%, resulting in a decrease in total revenue.
Operational Highlights
In the quarter under review, the company’s cost of revenue was $20.5 million, down 19.8% year over year.
Total operating expenses were $15.2 million in the quarter (or 57% of revenues) compared with $15.9 million (or 45.1% of revenues) in the prior-year quarter.
Financial Condition
As of Mar 31, 2017, Maxwell Technologies had cash and cash equivalents of $20.9 million compared with $25.4 million as of Dec 31, 2016.
As of Mar 31, 2017, long-term debt (excluding current portion) was $0.03 million compared with $0.04 million as of Dec 31, 2016.
Guidance
Maxwell expects total revenue in the range of $34–$37 million in the second quarter of 2017. Adjusted gross margin is expected to be 23%, while adjusted operating expenses are projected in the range of $12.6–$13 million.
Consolidated Edison Inc. (ED - Free Report) posted first-quarter 2017 adjusted earnings of $1.27 per share that beat the Zacks Consensus Estimate of $1.19 by 6.7%. It reported total revenue of $3,228 million in the first quarter, which exceeded the Zacks Consensus Estimate of $3,061 million by 5.5%.
Sempra Energy’s (SRE - Free Report) first-quarter 2017 adjusted earnings per share (EPS) came in at $1.74, beating the Zacks Consensus Estimate of $1.59 by 9.4%. Total revenue of $3,031 million also surpassed the consensus mark of $2,873.9 million by 5.5%.
Ameren Corporation (AEE - Free Report) posted first-quarter 2017 earnings from continuing operations of 42 cents per share, in line with the Zacks Consensus Estimate. Total revenue of $1,514 million in the first quarter of 2017 was up 5.6% year over year.
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Maxwell (MXWL) Posts In-Line Q1 Loss, Revenues Top Estimates
Maxwell Technologies, Inc. incurred adjusted loss of 27 cents per share in the first quarter of 2017 (considering stock-based compensation as a regular expense), which were in line with the Zacks Consensus Estimate. On a year-over-year basis, the quarterly loss widened from the year-ago loss of 18 cents per share.
Excluding one-time items, the company reported loss of 32 cents per share, substantially wider than a loss of 22 cents incurred in the prior-year quarter.
Maxwell Technologies, Inc. Price, Consensus and EPS Surprise
Maxwell Technologies, Inc. Price, Consensus and EPS Surprise | Maxwell Technologies, Inc. Quote
Revenues
Maxwell Technologies’ first-quarter revenues of $26.7 million surpassed the Zacks Consensus Estimate of $25.2 million by 5.9%. However, revenues plunged 24.2% from the year-ago figure of $35.2 million. High voltage revenues grew 52.3% in the first quarter, whereas ultracapacitor revenues declined 39.5%, resulting in a decrease in total revenue.
Operational Highlights
In the quarter under review, the company’s cost of revenue was $20.5 million, down 19.8% year over year.
Total operating expenses were $15.2 million in the quarter (or 57% of revenues) compared with $15.9 million (or 45.1% of revenues) in the prior-year quarter.
Financial Condition
As of Mar 31, 2017, Maxwell Technologies had cash and cash equivalents of $20.9 million compared with $25.4 million as of Dec 31, 2016.
As of Mar 31, 2017, long-term debt (excluding current portion) was $0.03 million compared with $0.04 million as of Dec 31, 2016.
Guidance
Maxwell expects total revenue in the range of $34–$37 million in the second quarter of 2017. Adjusted gross margin is expected to be 23%, while adjusted operating expenses are projected in the range of $12.6–$13 million.
Zacks Rank
Maxwell currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Peer Earnings Review
Consolidated Edison Inc. (ED - Free Report) posted first-quarter 2017 adjusted earnings of $1.27 per share that beat the Zacks Consensus Estimate of $1.19 by 6.7%. It reported total revenue of $3,228 million in the first quarter, which exceeded the Zacks Consensus Estimate of $3,061 million by 5.5%.
Sempra Energy’s (SRE - Free Report) first-quarter 2017 adjusted earnings per share (EPS) came in at $1.74, beating the Zacks Consensus Estimate of $1.59 by 9.4%. Total revenue of $3,031 million also surpassed the consensus mark of $2,873.9 million by 5.5%.
Ameren Corporation (AEE - Free Report) posted first-quarter 2017 earnings from continuing operations of 42 cents per share, in line with the Zacks Consensus Estimate. Total revenue of $1,514 million in the first quarter of 2017 was up 5.6% year over year.
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Today's investment ideas are short-term, directly based on our proven 1 to 3 month indicator. In addition, I invite you to consider our long-term opportunities. These rare trades look to start fast with strong Zacks Ranks, but carry through with double and triple-digit profit potential. Starting now, you can look inside our home run, value, and stocks under $10 portfolios, plus more.
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