Investors weren't impressed with fiscal second-quarter results
Evan is a Senior Technology Analyst at The Motley Fool. He was previously a Senior Trading Specialist at Charles Schwab, and worked briefly at Tesla. Evan graduated from the University of Texas at Austin, and is a CFA charterholder.
What happened
Shares of KEMET Corporation ( NYSE:KEM) got destroyed today, down by 30% as of noon EDT, after the company reported preliminary fiscal second-quarter results. While the results met analyst expectations, shares had gained 274% year to date prior to the release, so investors might have been pricing in even loftier expectations.
So what
Revenue in the fiscal second quarter totaled $301.5 million; that included sales from KEMET's acquisition of NEC TOKIN, which closed in April. Non-GAAP (generally accepted accounting principles) net income was $26.5 million, or $0.45 per share. The Street was modeling for $298.5 million in sales and an adjusted profit of $0.45 per share.
Now what
"As we predicted, reflecting on the prior quarter the TOKIN acquisition was accretive from the very start of the acquisition. This quarter continued the trend with strong performance as revenue, gross margins and net income improved sequentially over and above the impact of the acquisition," CEO Per Loof said in a statement.
What happened
Shares of KEMET Corporation (NYSE: KEM) got destroyed today, down by 30% as of noon EDT, after the company reported preliminary fiscal second-quarter results. While the results met analyst expectations, shares had gained 274% year to date prior to the release, so investors might have been pricing in even loftier expectations.
So what
Revenue in the fiscal second quarter totaled $301.5 million; that included sales from KEMET's acquisition of NEC TOKIN, which closed in April. Non-GAAP (generally accepted accounting principles) net income was $26.5 million, or $0.45 per share. The Street was modeling for $298.5 million in sales and an adjusted profit of $0.45 per share.
Now what
"As we predicted, reflecting on the prior quarter the TOKIN acquisition was accretive from the very start of the acquisition. This quarter continued the trend with strong performance as revenue, gross margins and net income improved sequentially over and above the impact of the acquisition," CEO Per Loof said in a statement.
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How were KEMET's earnings last quarter?
KEMET Co. (NYSE:KEM) released its earnings results on Thursday, May, 14th. The electronics maker reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.19. The electronics maker earned $293.17 million during the quarter, compared to the consensus estimate of $253.10 million.
Is KEMET a good dividend stock?
KEMET pays an annual dividend of $0.05 per share and currently has a dividend yield of 0.18%. The dividend payout ratio of KEMET is 2.33%. This payout ratio is at a healthy, sustainable level, below 75%. View KEMET's dividend history.
Who are some of KEMET's key competitors?
Some companies that are related to KEMET include Trimble (TRMB), Jabil (JBL), IPG Photonics (IPGP), Fabrinet (FN), Mercury Systems (MRCY), Sanmina (SANM), Plexus (PLXS), Methode Electronics (MEI), TTM Technologies (TTMI), CTS (CTS), Benchmark Electronics (BHE), Park Aerospace (PKE), Key Tronic (KTCC) and Neonode (NEON). View all of KEM's competitors..
What other stocks do shareholders of KEMET own?
Based on aggregate information from My MarketBeat watchlists, some companies that other KEMET investors own include Micron Technology (MU), NVIDIA (NVDA), Alibaba Group (BABA), Applied Materials (AMAT), Advanced Micro Devices (AMD), Kratos Defense & Security Solutions (KTOS), Bank of America (BAC), Intel (INTC), Marvell Technology (MRVL) and QUALCOMM (QCOM)..
What is KEMET's stock symbol?
KEMET trades on the New York Stock Exchange (NYSE) under the ticker symbol "KEM."
What is KEMET's stock price today?
One share of KEM stock can currently be purchased for approximately $27.21.
How much money does KEMET make?
KEMET has a market capitalization of $1.59 billion and generates $1.26 billion in revenue each year. The electronics maker earns $41.38 million in net income (profit) each year or $2.15 on an earnings per share basis.
