SMART Global Holdings (SGH - Free Report) just released its third-quarter fiscal 2018 financial results, posting adjusted earnings of $1.84 per share and revenues of $335.5 million.
Currently, SMART is a Zacks Rank #3 (Hold), which is subject to change based on today’s results. Shares of SGH have skyrocketed 157% over the last year, but have sunk 10% during the last four weeks. The memory and storage company’s stock fell 1.70% to $39.85 per share on Thursday.
SMART stock is currently up marginally to $40.11 per share in after-hours trading shortly after its earnings report was released.
Beat earnings estimates. The company posted adjusted earnings of $1.84 per share, beating the Zacks Consensus Estimate of $1.77 per share.
Beat revenue estimates. The company saw revenue figures of $335.5 million, topping our consensus estimate of $331.83 million.
SMART's revenues jumped roughly 62% from $206.97 million in the year-ago period. Meanwhile, the company’s earnings climbed from $0.62 share in the prior-year quarter.
Looking ahead to its upcoming fourth quarter, the company now expects to post revenues between $360 million and $380 million, which comes in above our current estimate of $352.5 million. SMART also projects Q4 adjusted earnings between $1.62 per share and $1.71 per share, with the high end coming in above our $1.66 estimate.
“Both our Specialty and Brazil businesses performed very well. Additionally, as announced on June 11, we have embarked upon the first step in our strategy to broaden our offerings with the acquisition of Penguin Computing,” CEO Ajay Shah said in a statement.
“Penguin is the cornerstone of our new business unit, SMART Specialty Compute & Storage Solutions (SCSS), and greatly expands the markets and technologies where we can participate into areas requiring specialized computing platforms in artificial intelligence, machine learning, advanced modeling and high performance computing.”
Here’s a graph that looks at SGH’s Price, Consensus and EPS Surprise history:
SMART Global Holdings, Inc. is a specialty memory, storage, and hybrid solutions company that delivers components, modules OEM customer, in computing, networking, communications, storage, mobile, and industrial markets.
Check back later for our full analysis on SGH’s earnings report!
Will You Make a Fortune on the Shift to Electric Cars?
Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
It's not the one you think.
See This Ticker Free >>