Spartan Motors Posts Solid First Quarter Results
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Spartan Motors (SPAR) Tops Q1 EPS by 1c, Revenues Beat; Affirms FY19 EPS/Revenue Outlook
May 2, 2019 7:38 AM EDTSpartan Motors (NASDAQ: SPAR) reported Q1 EPS of $0.04, $0.01 better than the analyst estimate of $0.03. Revenue for the quarter came in at $234 million versus the consensus estimate of $204.94 million.
First Quarter 2019 HighlightsFor the first quarter of 2019 compared to the first quarter of 2018:
Sales increased $61.0 million, or 35.2%, to $234.0 million from $173.0 million.As anticipated, the first quarter 2019 results included incremental tariff-related commodity cost increases and higher component costs totaling $2.3 million, or $0.05 per share, that negatively impacted net income, adjusted net income and adjusted EBITDA.Gross profit margin declined 230 basis points to 10.5% of... More