A month has gone by since the last earnings report for Maxwell Technologies, Inc. . Shares have added about 5.8% in that time frame.
Will the recent positive trend continue leading up to its next earnings release, or is MXWL due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts.
Maxwell Technologies Q4 Loss Wider Than Expected
Maxwell Technologies reported adjusted loss of 14 cents per share in fourth-quarter 2017, wider than the Zacks Consensus Estimate of a loss of 11 cents. On a year-over-year basis, the quarterly loss narrowed from the year-ago loss of 23 cents.
Excluding one-time items, the company incurred a loss of 24 cents per share, lower than the year-ago quarter’s loss of 38 cents.
For 2017, Maxwell Technologies reported adjusted loss of 65 cents per share, narrower than the loss of 67 cents in the prior year. The full-year adjusted earnings came in wider than the Zacks Consensus Estimate of a loss of 62 cents.
Revenues
Maxwell Technologies’ fourth-quarter revenues of $30.8 million missed the Zacks Consensus Estimate of $32 million by 3.4%. However, the top line improved 16.5% from the year-ago figure of $26.4 million.
For 2017, the company generated revenues worth $130.4 million, which once again lagged the Zacks Consensus Estimate of $134.03 million. Moreover, on a year-over-year basis, revenues improved 7.5 % from $121.2 million in the prior year.
While high voltage revenues dropped 27.4% in the quarter, ultracapacitor revenues improved 63.6%, resulting in an improvement in total revenues.
Operational Highlights
In the quarter under review, the company’s cost of revenues was $23.4 million, up 13% year over year.
Total operating expenses were $14.3 million (or 46.5% of revenues) compared with $15.6 million (or 59.1% of revenues) in the prior-year quarter.
Financial Condition
As of Dec 31, 2017, Maxwell Technologies had cash and cash equivalents of $50.1 million compared with $25.4 million as of Dec 31, 2016.
As of Dec 31, 2017, long-term debt (excluding current portion) was $35.1 million compared with $0.04 million as of Dec 31, 2016.
Guidance
Maxwell Technologies anticipates total revenues in the range of $31-$33 million in first-quarter 2018 and adjusted net loss to be 12 cents per share. While adjusted gross margin is expected to be in the range of 26.5%, adjusted operating expenses are projected in the range of $12.6-$13 million.
How Have Estimates Been Moving Since Then?
Fresh estimates followed a downward path over the past two months. In the past month, the consensus estimate has shifted by 5.3% due to these changes.
Maxwell Technologies, Inc. Price and Consensus
VGM Scores
Currently, MXWL has a subpar Growth Score of D, a grade with the same score on the momentum front. Charting a somewhat similar path, the stock was allocated a grade of F on the value side, putting it in the lowest quintile for this investment strategy.
Overall, the stock has an aggregate VGM Score of F. If you aren't focused on one strategy, this score is the one you should be interested in.
Our style scores indicate investors will probably be better served looking elsewhere.
Outlook
MXWL has a Zacks Rank #4 (Sell). We expect a below average return from the stock in the next few months.
Image: Bigstock
Why Is Maxwell (MXWL) Up 5.8% Since Its Last Earnings Report?
A month has gone by since the last earnings report for Maxwell Technologies, Inc. . Shares have added about 5.8% in that time frame.
Will the recent positive trend continue leading up to its next earnings release, or is MXWL due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts.
Maxwell Technologies Q4 Loss Wider Than Expected
Maxwell Technologies reported adjusted loss of 14 cents per share in fourth-quarter 2017, wider than the Zacks Consensus Estimate of a loss of 11 cents. On a year-over-year basis, the quarterly loss narrowed from the year-ago loss of 23 cents.
Excluding one-time items, the company incurred a loss of 24 cents per share, lower than the year-ago quarter’s loss of 38 cents.
For 2017, Maxwell Technologies reported adjusted loss of 65 cents per share, narrower than the loss of 67 cents in the prior year. The full-year adjusted earnings came in wider than the Zacks Consensus Estimate of a loss of 62 cents.
Revenues
Maxwell Technologies’ fourth-quarter revenues of $30.8 million missed the Zacks Consensus Estimate of $32 million by 3.4%. However, the top line improved 16.5% from the year-ago figure of $26.4 million.
For 2017, the company generated revenues worth $130.4 million, which once again lagged the Zacks Consensus Estimate of $134.03 million. Moreover, on a year-over-year basis, revenues improved 7.5 % from $121.2 million in the prior year.
While high voltage revenues dropped 27.4% in the quarter, ultracapacitor revenues improved 63.6%, resulting in an improvement in total revenues.
Operational Highlights
In the quarter under review, the company’s cost of revenues was $23.4 million, up 13% year over year.
Total operating expenses were $14.3 million (or 46.5% of revenues) compared with $15.6 million (or 59.1% of revenues) in the prior-year quarter.
Financial Condition
As of Dec 31, 2017, Maxwell Technologies had cash and cash equivalents of $50.1 million compared with $25.4 million as of Dec 31, 2016.
As of Dec 31, 2017, long-term debt (excluding current portion) was $35.1 million compared with $0.04 million as of Dec 31, 2016.
Guidance
Maxwell Technologies anticipates total revenues in the range of $31-$33 million in first-quarter 2018 and adjusted net loss to be 12 cents per share. While adjusted gross margin is expected to be in the range of 26.5%, adjusted operating expenses are projected in the range of $12.6-$13 million.
How Have Estimates Been Moving Since Then?
Fresh estimates followed a downward path over the past two months. In the past month, the consensus estimate has shifted by 5.3% due to these changes.
Maxwell Technologies, Inc. Price and Consensus
Maxwell Technologies, Inc. Price and Consensus | Maxwell Technologies, Inc. Quote
VGM Scores
Currently, MXWL has a subpar Growth Score of D, a grade with the same score on the momentum front. Charting a somewhat similar path, the stock was allocated a grade of F on the value side, putting it in the lowest quintile for this investment strategy.
Overall, the stock has an aggregate VGM Score of F. If you aren't focused on one strategy, this score is the one you should be interested in.
Our style scores indicate investors will probably be better served looking elsewhere.
Outlook
MXWL has a Zacks Rank #4 (Sell). We expect a below average return from the stock in the next few months.