We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Cimpress (CMPR) Shares Rise 1.9% Since Q2 Earnings Release
Read MoreHide Full Article
Cimpress plc (CMPR - Free Report) reported second-quarter fiscal 2024 (ended Dec 31, 2023) adjusted earnings of $2.14 per share, which surpassed the Zacks Consensus Estimate of $1.24. Cimpress incurred a loss of 46 cents per share in the year-ago quarter. Following this better-than-expected performance, shares of the company have gained 1.9% since the earnings release on Jan 31.
Top-Line Details
Total revenues in the fiscal second quarter were $921.4 million, reflecting an increase of 9% from $845.2 million in the year-ago quarter. The organic constant-currency revenue growth was 6% year over year, driven by growth in each of its businesses. The top line beat the Zack Consensus Estimate of $901 million.
Segmental Information
The National Pen segment generated revenues of $130.6 million, up from $120.6 million in the year-ago quarter. Our estimate for the quarter was $108.5 million. Vista — the largest revenue-generating segment — reported aggregate revenues of $485.1 million compared with $437.7 million in the year-ago quarter. Our estimate for the quarter was $481.6 million.
The Upload and Print segment’s revenues increased to $258.2 million from $237.7 million in the year-ago quarter. The segment consists of two subgroups, namely PrintBrothers and The Print Group. In the fiscal second quarter, PrintBrothers’ revenues increased to $165.1 million from $148.6 million reported in the year-ago period. Our estimate for the quarter was $175.7 million.
In the fiscal second quarter, the Print Group generated revenues of $93.3 million, up from $89.3 million reported in the year-ago quarter. Our estimate for the quarter was $102.9 million. Revenues from All Other Businesses were $60.3 million, in line with the year-ago quarter. Our estimate for the quarter was $62.5 million.
In the fiscal quarter, Cimpress' cost of revenues was $463.4 million, up 1.8% on a year-over-year basis. Marketing and selling expenses totaled $211.8 million, up 3.3% year over year. Total general & administrative expenses were $48.8 million, down from $49.8 million reported in the year-ago fiscal quarter.
Gross profit increased 17.4% year over year to $458 million. The margin was 49.7%, up 360 basis points. Net interest expenses rose 7% to $30.6 million.
Balance Sheet and Cash Flow
As of Dec 31, 2023, Cimpress had $274.3 million of cash and cash equivalents compared with $130.3 million at the end of the fourth quarter of fiscal 2023. Also, CMPR’s total debt (net of issuance costs) was $1,626.3 million in the first six months of the year.
In the same time, net cash provided by operating activities was $217.2 million compared with $55.8 million in the year-ago period.
Outlook
For fiscal 2024, the company expects consolidated reported revenue growth (assuming recent currency rates) to be at least 7% compared with at least 8% predicted earlier and organic constant-currency revenue growth to be at least 5%.
CMPR predicts operating income to be at least $230.5 million for the fiscal year and adjusted EBITDA to be at least $455.0 million.
Zacks Rank & Other Stocks to Consider
Cimpress currently sports a Zacks Rank #1 (Strong Buy). Some other top-ranked companies are discussed below:
FLS delivered a trailing four-quarter average earnings surprise of 27.3%. In the past 60 days, the Zacks Consensus Estimate for Flowserve’s 2023 earnings has remained steady. The stock has risen 15.1% in the past year.
A. O. Smith Corporation (AOS - Free Report) presently carries a Zacks Rank of 2. It has a trailing four-quarter average earnings surprise of 12%.
The Zacks Consensus Estimate for AOS’ 2024 earnings increased 1.5% in the past 60 days. Shares of A. O. Smith have jumped 12.8% in the past year.
Parker-Hannifin Corporation (PH - Free Report) currently carries a Zacks Rank of 2. The company delivered a trailing four-quarter average earnings surprise of 11.8%.
In the past 60 days, the Zacks Consensus Estimate for Parker-Hannifin’s fiscal 2024 (ending June 2024) earnings has increased 0.3%. The stock has risen 57.8% in the past year.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Cimpress (CMPR) Shares Rise 1.9% Since Q2 Earnings Release
Cimpress plc (CMPR - Free Report) reported second-quarter fiscal 2024 (ended Dec 31, 2023) adjusted earnings of $2.14 per share, which surpassed the Zacks Consensus Estimate of $1.24. Cimpress incurred a loss of 46 cents per share in the year-ago quarter. Following this better-than-expected performance, shares of the company have gained 1.9% since the earnings release on Jan 31.
Top-Line Details
Total revenues in the fiscal second quarter were $921.4 million, reflecting an increase of 9% from $845.2 million in the year-ago quarter. The organic constant-currency revenue growth was 6% year over year, driven by growth in each of its businesses. The top line beat the Zack Consensus Estimate of $901 million.
Segmental Information
The National Pen segment generated revenues of $130.6 million, up from $120.6 million in the year-ago quarter. Our estimate for the quarter was $108.5 million. Vista — the largest revenue-generating segment — reported aggregate revenues of $485.1 million compared with $437.7 million in the year-ago quarter. Our estimate for the quarter was $481.6 million.
The Upload and Print segment’s revenues increased to $258.2 million from $237.7 million in the year-ago quarter. The segment consists of two subgroups, namely PrintBrothers and The Print Group. In the fiscal second quarter, PrintBrothers’ revenues increased to $165.1 million from $148.6 million reported in the year-ago period. Our estimate for the quarter was $175.7 million.
In the fiscal second quarter, the Print Group generated revenues of $93.3 million, up from $89.3 million reported in the year-ago quarter. Our estimate for the quarter was $102.9 million. Revenues from All Other Businesses were $60.3 million, in line with the year-ago quarter. Our estimate for the quarter was $62.5 million.
Cimpress plc Price, Consensus and EPS Surprise
Cimpress plc price-consensus-eps-surprise-chart | Cimpress plc Quote
Margin Details
In the fiscal quarter, Cimpress' cost of revenues was $463.4 million, up 1.8% on a year-over-year basis. Marketing and selling expenses totaled $211.8 million, up 3.3% year over year. Total general & administrative expenses were $48.8 million, down from $49.8 million reported in the year-ago fiscal quarter.
Gross profit increased 17.4% year over year to $458 million. The margin was 49.7%, up 360 basis points. Net interest expenses rose 7% to $30.6 million.
Balance Sheet and Cash Flow
As of Dec 31, 2023, Cimpress had $274.3 million of cash and cash equivalents compared with $130.3 million at the end of the fourth quarter of fiscal 2023. Also, CMPR’s total debt (net of issuance costs) was $1,626.3 million in the first six months of the year.
In the same time, net cash provided by operating activities was $217.2 million compared with $55.8 million in the year-ago period.
Outlook
For fiscal 2024, the company expects consolidated reported revenue growth (assuming recent currency rates) to be at least 7% compared with at least 8% predicted earlier and organic constant-currency revenue growth to be at least 5%.
CMPR predicts operating income to be at least $230.5 million for the fiscal year and adjusted EBITDA to be at least $455.0 million.
Zacks Rank & Other Stocks to Consider
Cimpress currently sports a Zacks Rank #1 (Strong Buy). Some other top-ranked companies are discussed below:
Flowserve Corporation (FLS - Free Report) presently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
FLS delivered a trailing four-quarter average earnings surprise of 27.3%. In the past 60 days, the Zacks Consensus Estimate for Flowserve’s 2023 earnings has remained steady. The stock has risen 15.1% in the past year.
A. O. Smith Corporation (AOS - Free Report) presently carries a Zacks Rank of 2. It has a trailing four-quarter average earnings surprise of 12%.
The Zacks Consensus Estimate for AOS’ 2024 earnings increased 1.5% in the past 60 days. Shares of A. O. Smith have jumped 12.8% in the past year.
Parker-Hannifin Corporation (PH - Free Report) currently carries a Zacks Rank of 2. The company delivered a trailing four-quarter average earnings surprise of 11.8%.
In the past 60 days, the Zacks Consensus Estimate for Parker-Hannifin’s fiscal 2024 (ending June 2024) earnings has increased 0.3%. The stock has risen 57.8% in the past year.