Briggs & Stratton beats by $0.11, beats on revs; guides FY12 EPS mid point above, revs above consensus (BGG) 15.00 : Reports Q1 (Sep) loss of $0.10 per share, $0.11 better than the Capital IQ Consensus Estimate of ($0.21); revenues rose 18.9% year/year to $397.3 mln vs the $342.1 mln consensus. Co issues guidance for FY12, sees EPS of $1.15-1.35 vs. $1.17 Capital IQ Consensus Estimate; sees FY12 revs +4-6% to ~$2.19-2.24 bln (vs. $2.17 bln Capital IQ Consensus Estimate), depending on the level of recovery of consumer spending within the outdoor power equipment category. Engines Segment sales are forecasted to be comparable to fiscal 2011 on lower volume and improved pricing while the Power Products Segment sales are forecasted higher primarily due to higher volumes of lawn and garden equipment, pressure washers, and portable and standby generators. Operating income margins are now projected to be in the range of 4.5% to 5.0%.
I have this in my long term portfolio. I have a lower average purchase price than the current price but I still think this is a good stock and one to buy on any weakness. This stock opened over $17 on these earnings and guidance. However, it has now pulled back to 14.35 at the time of this post. I think that is a cheap valuation.