Navios Maritime Partners Hits Estimates, but GAAP Results Lag Last Year's

Navios Maritime Partners (NYSE: NMM  ) reported earnings on April 26. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended March 31 (Q1), Navios Maritime Partners met expectations on revenues and met expectations on earnings per share.

Compared with the prior-year quarter, revenue grew and GAAP earnings per share contracted.

Gross margins expanded, operating margins shrank, net margins dropped.

Revenue details
Navios Maritime Partners logged revenue of $48.0 million. The four analysts polled by S&P Capital IQ expected sales of $47.6 million on the same basis. GAAP reported sales were 12% higher than the prior-year quarter's $42.8 million.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
EPS came in at $0.30. The four earnings estimates compiled by S&P Capital IQ predicted $0.30 per share. GAAP EPS of $0.30 for Q1 were 6.3% lower than the prior-year quarter's $0.32 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Margin details
For the quarter, gross margin was 93.3%, 20 basis points better than the prior-year quarter. Operating margin was 39.8%, 360 basis points worse than the prior-year quarter. Net margin was 35.3%, 350 basis points worse than the prior-year quarter.

Looking ahead
Next quarter's average estimate for revenue is $47.8 million. On the bottom line, the average EPS estimate is $0.31.

Next year's average estimate for revenue is $189.8 million. The average EPS estimate is $1.19.

Investor sentiment
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 200 members out of 213 rating the stock outperform, and 13 members rating it underperform. Among 62 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 58 give Navios Maritime Partners a green thumbs-up, and four give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Navios Maritime Partners is outperform, with an average price target of $19.25.

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Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings. He is the co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.


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