We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Maxwell (MXWL) Incurs Narrower-Than-Expected Loss in Q3
Read MoreHide Full Article
Maxwell Technologies, Inc. reported adjusted loss of 13 cents per share in third-quarter 2017, which was narrower than the Zacks Consensus Estimate of loss of 15 cents. On a year-over-year basis, the quarterly loss narrowed from the year-ago loss of 15 cents per share.
Excluding one-time items, the company incurred loss of 37 cents per share, substantially wider than earnings of 28 cents reported in the prior-year quarter.
Revenues
Maxwell Technologies’ third-quarter revenues of $35.8 million missed the Zacks Consensus Estimate of $36.4 million by 1.6%. Also, the top line declined 3.5% from the year-ago figure of $37.1 million.
While high voltage revenues dropped 31.4% in the quarter, ultracapacitor revenues improved 9.9%, resulting in a decline in total revenues.
Maxwell Technologies, Inc. Price, Consensus and EPS Surprise
In the quarter under review, the company’s cost of revenue was $28.4 million, down 2.9% year over year.
Total operating expenses were $20.7 million (or 57.8% of revenues) compared with $16.5 million (or 44.5% of revenues) in the prior-year quarter.
Financial Condition
As of Sep 30, Maxwell Technologies had cash and cash equivalents of $52.9 million compared with $25.4 million as of Dec 31, 2016.
As of Sep 30, long-term debt (excluding current portion) was $30.2 million compared with $0.04 million as of Dec 31, 2016.
Guidance
Maxwell Technologies expects total revenues in the range of $31-$33 million in fourth-quarter 2017. While adjusted gross margin is anticipated to be in the range of 26-29%, adjusted operating expenses are projected in the range of $11.9-$12.3 million.
TE Connectivity Ltd. (TEL - Free Report) scored its eighth consecutive earnings beat as the company reported fourth-quarter fiscal 2017 adjusted earnings of $1.25 per share, beating the Zacks Consensus Estimate of $1.16 by 7.8%.
Stoneridge, Inc.’s (SRI - Free Report) third-quarter 2017 earnings per share came in at 36 cents, beating the Zacks Consensus Estimate of 32 cents by 12.5%.
Rogers Corporation (ROG - Free Report) reported third-quarter 2017 earnings of $1.41 per share, beating the Zacks Consensus Estimate of $1.26 by 11.9%.
Today's Stocks from Zacks' Hottest Strategies
It's hard to believe, even for us at Zacks. But while the market gained +18.8% from 2016 - Q1 2017, our top stock-picking screens have returned +157.0%, +128.0%, +97.8%, +94.7%, and +90.2% respectively.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - Q1 2017, the composite yearly average gain for these strategies has beaten the market more than 11X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.
Image: Bigstock
Maxwell (MXWL) Incurs Narrower-Than-Expected Loss in Q3
Maxwell Technologies, Inc. reported adjusted loss of 13 cents per share in third-quarter 2017, which was narrower than the Zacks Consensus Estimate of loss of 15 cents. On a year-over-year basis, the quarterly loss narrowed from the year-ago loss of 15 cents per share.
Excluding one-time items, the company incurred loss of 37 cents per share, substantially wider than earnings of 28 cents reported in the prior-year quarter.
Revenues
Maxwell Technologies’ third-quarter revenues of $35.8 million missed the Zacks Consensus Estimate of $36.4 million by 1.6%. Also, the top line declined 3.5% from the year-ago figure of $37.1 million.
While high voltage revenues dropped 31.4% in the quarter, ultracapacitor revenues improved 9.9%, resulting in a decline in total revenues.
Maxwell Technologies, Inc. Price, Consensus and EPS Surprise
Maxwell Technologies, Inc. Price, Consensus and EPS Surprise | Maxwell Technologies, Inc. Quote
Operational Highlights
In the quarter under review, the company’s cost of revenue was $28.4 million, down 2.9% year over year.
Total operating expenses were $20.7 million (or 57.8% of revenues) compared with $16.5 million (or 44.5% of revenues) in the prior-year quarter.
Financial Condition
As of Sep 30, Maxwell Technologies had cash and cash equivalents of $52.9 million compared with $25.4 million as of Dec 31, 2016.
As of Sep 30, long-term debt (excluding current portion) was $30.2 million compared with $0.04 million as of Dec 31, 2016.
Guidance
Maxwell Technologies expects total revenues in the range of $31-$33 million in fourth-quarter 2017. While adjusted gross margin is anticipated to be in the range of 26-29%, adjusted operating expenses are projected in the range of $11.9-$12.3 million.
Zacks Rank
Maxwell Technologies currently carries a Zacks Rank #3 (Hold).You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Recent Peer Releases
TE Connectivity Ltd. (TEL - Free Report) scored its eighth consecutive earnings beat as the company reported fourth-quarter fiscal 2017 adjusted earnings of $1.25 per share, beating the Zacks Consensus Estimate of $1.16 by 7.8%.
Stoneridge, Inc.’s (SRI - Free Report) third-quarter 2017 earnings per share came in at 36 cents, beating the Zacks Consensus Estimate of 32 cents by 12.5%.
Rogers Corporation (ROG - Free Report) reported third-quarter 2017 earnings of $1.41 per share, beating the Zacks Consensus Estimate of $1.26 by 11.9%.
Today's Stocks from Zacks' Hottest Strategies
It's hard to believe, even for us at Zacks. But while the market gained +18.8% from 2016 - Q1 2017, our top stock-picking screens have returned +157.0%, +128.0%, +97.8%, +94.7%, and +90.2% respectively.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - Q1 2017, the composite yearly average gain for these strategies has beaten the market more than 11X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.
See Them Free>>