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.
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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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.
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.
Looking for Ideas with Even Greater Upside?
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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Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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