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Cimpress (CMPR) Earnings & Revenues Miss Estimates in Q3

Cimpress plc CMPR reported third-quarter fiscal 2024 (ended Mar 31, 2024) adjusted loss of 15 cents per share, which lagged the Zacks Consensus Estimate of earnings of 14 cents. Cimpress incurred an adjusted loss of $1.88 per share in the year-ago quarter.

Top-Line Details

Total revenues were $780.6 million, reflecting an increase of 5.2% from $742.2 million in the year-ago quarter. The organic constant-currency revenue growth was 4% year over year, driven by growth in each of its businesses. However, the top line missed the Zack Consensus Estimate of $783 million.

Segmental Information

The National Pen segment generated revenues of $89.2 million, up from $81.1 million in the year-ago quarter. Our estimate was $85.4 million.

Vista — the largest revenue-generating segment — reported aggregate revenues of $417.9 million compared with $396.6 million in the year-ago quarter. Our estimate was $418.9 million.

The Upload and Print segment’s revenues increased to $238.4 million from $225.1 million in the year-ago quarter. The segment consists of two subgroups, namely PrintBrothers and The Print Group.

PrintBrothers’ revenues increased to $150.3 million from $139.6 million reported in the year-ago period. Our estimate was $149.2 million. The Print Group generated revenues of $88.1 million, up from $85.5 million reported in the year-ago quarter. Our estimate was $87.9 million.

Revenues from All Other Businesses were $49.1 million, flat year over year. Our estimate was $48.4 million.

Cimpress plc Price, Consensus and EPS Surprise

Cimpress plc Price, Consensus and EPS Surprise
Cimpress plc Price, Consensus and EPS Surprise

Cimpress plc price-consensus-eps-surprise-chart | Cimpress plc Quote

Margin Details

Cimpress' cost of revenues was $404.7 million, up 2.5% on a year-over-year basis. Marketing and selling expenses totaled $191.6 million, up 2.4% year over year.  General & administrative expenses were $54.3 million, up from $52.6 million reported in the year-ago fiscal quarter.

Gross profit increased 8.4% year over year to $376 million. The margin was 48.0%, up 100 basis points year over year. Net interest expenses fell 1% year over year to $30.2 million.

Balance Sheet and Cash Flow

As of Mar 31, 2024, Cimpress had $154.3 million of cash and cash equivalents compared with $130.3 million at the end of the fourth quarter of fiscal 2023.

Exiting the fiscal third quarter, CMPR’s long-term debt was $1.59 billion, down from $1.63 billion at fourth-quarter fiscal 2023-end.

In the same time, net cash provided by operating activities was $8.43 million compared with $12.6 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% and organic constant-currency revenue growth to be at least 5%.

CMPR predicts operating income to be at least $230.5 million and adjusted EBITDA to be at least $455.0 million.

Zacks Rank

Cimpress currently carries a Zacks Rank #3 (Hold).

Stocks to Consider

Some better-ranked companies are discussed below:

Chart Industries GTLS presently sports a Zacks Rank #1 (Strong Buy). It has a trailing four-quarter average earnings surprise of 75.9%. You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for GTLS’ 2024 earnings has increased 5.7% in the past 60 days.

Crane Company CR presently flaunts a Zacks Rank of 1. It delivered a trailing four-quarter average earnings surprise of 15.2%.

In the past 60 days, the Zacks Consensus Estimate for CR’s 2024 earnings has increased 4.9%.

Ingersoll Rand plc IR currently carries a Zacks Rank of 2 (Buy). IR delivered a trailing four-quarter average earnings surprise of 15.9%.

In the past 60 days, the Zacks Consensus Estimate for Ingersoll Rand’s 2024 earnings has increased 1.6%.

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Cimpress plc (CMPR) : Free Stock Analysis Report

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