It has been about a month since the last earnings report for Cimpress (CMPR). Shares have added about 16.6% in that time frame, outperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is Cimpress due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts.
Cimpress reported first-quarter fiscal 2025 (ended Sept. 30, 2024) adjusted loss of 50 cents per share in contrast to the Zacks Consensus Estimate of earnings of 30 cents per share. The company had reported adjusted earnings of 17 cents per share in the year-ago quarter.
Total revenues were $805 million, reflecting an increase of 6% from $757.3 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 $801 million.
The National Pen segment generated revenues of $93.4 million, up from $86.8 million in the year-ago quarter. Our estimate was $93 million.
Vista — the largest revenue-generating segment — reported aggregate revenues of $429.5 million compared with $396.9 million in the year-ago quarter. Our estimate was $425.7 million.
The Upload and Print segment’s revenues increased to $244.5 million from $231.9 million in the year-ago quarter. The segment consists of two subgroups, namely PrintBrothers and The Print Group.
PrintBrothers’ revenues increased to $160.4 million from $152.6 million in the year-ago period. Our estimate was $165 million. The Print Group generated revenues of $84.1 million, up from $79.4 million reported in the year-ago quarter. Our estimate was $82.6 million.
Revenues from All Other Businesses were $57.1 million compared with $51.4 million reported a year ago. Our estimate was $52.7 million.
Cimpress' cost of revenues was $422.7 million, up 6% on a year-over-year basis. Marketing and selling expenses totaled $203.8 million, up 6% year over year. General & administrative expenses were $51.9 million, up from $48.3 million reported in the year-ago fiscal quarter.
Gross profit increased 6.4% year over year to $382 million. The margin was 47%, relatively stable year over year. Net interest expenses rose 7.5% year over year to $31.4 million. Adjusted EBITDA fell $1 million year over year to $87.8 million.
As of Sept. 30, 2024, Cimpress had $153 million of cash and cash equivalents compared with $203.8 million at the end of the fourth quarter of fiscal 2024.
Exiting the fiscal first quarter, CMPR’s long-term debt was $1.59 billion, relatively stable from the fourth-quarter fiscal 2024-end figure.
During the fiscal first quarter, net cash provided by operating activities was $4.4 million compared with $42.3 million in the year-ago period. It repurchased shares worth $10.6 million during the quarter.
For fiscal 2025, Cimpress expects to reduce net leverage. The company hopes to exit fiscal 2025 with net leverage at or below 2.75x trailing-twelve-month EBITDA.
In the past month, investors have witnessed an upward trend in fresh estimates.
The consensus estimate has shifted 8.41% due to these changes.
At this time, Cimpress has an average Growth Score of C, a grade with the same score on the momentum front. However, the stock was allocated a grade of A on the value side, putting it in the top quintile for this investment strategy.
Overall, the stock has an aggregate VGM Score of B. If you aren't focused on one strategy, this score is the one you should be interested in.
Estimates have been trending upward for the stock, and the magnitude of these revisions looks promising. Notably, Cimpress has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
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