Spartan Motors Posts Strong First Quarter Results

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Go back to Spartan Motors Posts Strong First Quarter Results

Spartan Motors (SPAR) Tops Q1 EPS by 7c, Revenues Miss; Withdraws FY20 Guidance

May 7, 2020 7:35 AM EDT

Spartan Motors (NASDAQ: SPAR) reported Q1 EPS of $0.32, $0.07 better than the analyst estimate of $0.25. Revenue for the quarter came in at $176.9 million versus the consensus estimate of $180.22 million.

First Quarter 2020 Highlights from Continuing Operations

For the first quarter of 2020 compared to the first quarter of 2019:

Sales increased $4.7 million, or 2.8%, to $176.9 million from $172.2 million. Sales increased $37.4 million, or 26.8%, excluding $32.7 million of pass-through revenues from the one-time USPS truck body order in the prior year.Gross profit margin improved 850 basis points to 20.5% of sales from 12.0% of sales.Income from continuing operations increased $6.9... More