AVX Earnings: Here’s Why the Stock is Rising Now

AVX Corp. (NYSE:AVX) delivered a profit and met Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 0.18%.

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AVX Corp. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share decreased 31.82% to $0.15 in the quarter versus EPS of $0.22 in the year-earlier quarter.

Revenue: Decreased 0.73% to $360.55 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: AVX Corp. reported adjusted EPS income of $0.15 per share. By that measure, the company missed the mean analyst estimate of $0.15. It beat the average revenue estimate of $348.4 million.

Quoting Management: Chief Executive Officer, John Gilbertson, stated, “We completed our fiscal year with improved fourth quarter results reflecting sequential sales growth over the previous quarter. The quarter reflected overall macro economic conditions as we saw growth from the third quarter in terms of bookings and revenue, indicating moderate demand improvement. This optimism was bolstered by an order backlog build in the quarter. Another positive impacting the current and future quarters is the previously announced acquisition of the Tantalum Components Division of Nichicon Corporation, which closed in early February.”

Key Stats (on next page)…

Revenue increased 6.08% from $339.88 million in the previous quarter. EPS increased 25% from $0.12 in the previous quarter.

Looking Forward: Analysts have a neutral outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings is a profit of $0.17 and has not changed. For the current year, the average estimate has moved down from a profit of $0.63 to a profit of $0.61 over the last ninety days.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)