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Cimpress' Financial Results Update Shows Y/Y Drop in Bookings
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Cimpress plc (CMPR - Free Report) provided its financial update, considering the impacts of the coronavirus pandemic on its operational performance. Notably, the company’s share price declined 2.7% to eventually close at $78.42 yesterday.
Cimpress’ chief executive officer, Robert Keane, communicated that the company anticipates undergoing a long and uneven recovery phase from the adverse impacts of the pandemic. However, it noted that its latest revenue and profit trends have been better than what it earlier expected.
Earlier, the company stated that in April 2020, bookings in its Vistaprint segment witnessed a decline of 51% on a year-over-year basis, while that for the Upload and Print segment fell 57%. Also, bookings in the National Pen segment and All Other segment declined 65% and 6%, respectively. Notably, this led to a decline in the company’s consolidated bookings for April by 51% year over year.
However, it also noted that bookings in all segments started to show signs of improvement from the second half of April compared to the first half, which continued throughout May 2020. For May, bookings in the Vistaprint segment decreased 18% year over year, while that for the Upload and Print segment fell 40%. Bookings in the National Pen segment recorded a decline of 43%, whereas the same for the All Other segment increased 24%. Notably, the company’s consolidated bookings for May decreased 25% year over year, narrower than the previous month’s decline. For a couple of weeks ended on Jun 13, 2020, the consolidated bookings recorded a decline of about 24% (on average) on a year-over-year basis.
Notably, Cimpress stated that the latest trend highlights the outcome of its change in focus to products and product content templates, and the impacts of ongoing relaxation of government restrictions in certain end markets.
The company also stated that it has been continuing its variable and fixed cost-management initiatives. In addition, it stated that its current liquidity level (including available cash and credit facility) stays almost at the same level recorded at the end of March 2020.
Cimpress, with a $2-billion market capitalization, currently carries a Zacks Rank #3 (Hold). In the past three months, the company’s share price has increased 33.5% compared with the industry’s growth of 32%.
Activision Blizzard delivered a positive earnings surprise of 31.34%, on average, in the trailing four quarters.
Brunswick delivered a positive earnings surprise of 8.42%, on average, in the trailing four quarters.
Camping World Holdings delivered a positive earnings surprise of 75.00% in the last reported quarter.
Zacks’ Single Best Pick to Double
From thousands of stocks, 5 Zacks experts each picked their favorite to gain +100% or more in months to come. From those 5, Zacks Director of Research, Sheraz Mian hand-picks one to have the most explosive upside of all.
This young company’s gigantic growth was hidden by low-volume trading, then cut short by the coronavirus. But its digital products stand out in a region where the internet economy has tripled since 2015 and looks to triple again by 2025.
Its stock price is already starting to resume its upward arc. The sky’s the limit! And the earlier you get in, the greater your potential gain.
Image: Bigstock
Cimpress' Financial Results Update Shows Y/Y Drop in Bookings
Cimpress plc (CMPR - Free Report) provided its financial update, considering the impacts of the coronavirus pandemic on its operational performance. Notably, the company’s share price declined 2.7% to eventually close at $78.42 yesterday.
Cimpress’ chief executive officer, Robert Keane, communicated that the company anticipates undergoing a long and uneven recovery phase from the adverse impacts of the pandemic. However, it noted that its latest revenue and profit trends have been better than what it earlier expected.
Earlier, the company stated that in April 2020, bookings in its Vistaprint segment witnessed a decline of 51% on a year-over-year basis, while that for the Upload and Print segment fell 57%. Also, bookings in the National Pen segment and All Other segment declined 65% and 6%, respectively. Notably, this led to a decline in the company’s consolidated bookings for April by 51% year over year.
However, it also noted that bookings in all segments started to show signs of improvement from the second half of April compared to the first half, which continued throughout May 2020. For May, bookings in the Vistaprint segment decreased 18% year over year, while that for the Upload and Print segment fell 40%. Bookings in the National Pen segment recorded a decline of 43%, whereas the same for the All Other segment increased 24%. Notably, the company’s consolidated bookings for May decreased 25% year over year, narrower than the previous month’s decline. For a couple of weeks ended on Jun 13, 2020, the consolidated bookings recorded a decline of about 24% (on average) on a year-over-year basis.
Notably, Cimpress stated that the latest trend highlights the outcome of its change in focus to products and product content templates, and the impacts of ongoing relaxation of government restrictions in certain end markets.
The company also stated that it has been continuing its variable and fixed cost-management initiatives. In addition, it stated that its current liquidity level (including available cash and credit facility) stays almost at the same level recorded at the end of March 2020.
Cimpress, with a $2-billion market capitalization, currently carries a Zacks Rank #3 (Hold). In the past three months, the company’s share price has increased 33.5% compared with the industry’s growth of 32%.
Stocks to Consider
Some better-ranked stocks from the Zacks Consumer Discretionary sector are Activision Blizzard, Inc. , Brunswick Corporation (BC - Free Report) and Camping World Holdings Inc. (CWH - Free Report) . While Activision Blizzard sports a Zacks Rank #1 (Strong Buy), Brunswick and Camping World Holdings carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Activision Blizzard delivered a positive earnings surprise of 31.34%, on average, in the trailing four quarters.
Brunswick delivered a positive earnings surprise of 8.42%, on average, in the trailing four quarters.
Camping World Holdings delivered a positive earnings surprise of 75.00% in the last reported quarter.
Zacks’ Single Best Pick to Double
From thousands of stocks, 5 Zacks experts each picked their favorite to gain +100% or more in months to come. From those 5, Zacks Director of Research, Sheraz Mian hand-picks one to have the most explosive upside of all.
This young company’s gigantic growth was hidden by low-volume trading, then cut short by the coronavirus. But its digital products stand out in a region where the internet economy has tripled since 2015 and looks to triple again by 2025.
Its stock price is already starting to resume its upward arc. The sky’s the limit! And the earlier you get in, the greater your potential gain.
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