Progressive Waste Solutions
The 10-second takeaway
For the quarter ended March 31 (Q1), Progressive Waste Solutions met expectations on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue improved and GAAP earnings per share was unchanged.
Margins dropped across the board.
Progressive Waste Solutions reported revenue of $431.9 million. The 11 analysts polled by S&P Capital IQ wanted to see revenue of $433.9 million on the same basis. GAAP reported sales were 3.6% higher than the prior-year quarter's $422.9 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.20. The nine earnings estimates compiled by S&P Capital IQ forecast $0.24 per share. GAAP EPS of $0.19 were the same as the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 39.5%, 210 basis points worse than the prior-year quarter. Operating margin was 11.5%, 150 basis points worse than the prior-year quarter. Net margin was 5.0%, 50 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $483.3 million. On the bottom line, the average EPS estimate is $0.30.
Next year's average estimate for revenue is $1.90 billion. The average EPS estimate is $1.15.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 86 members out of 88 rating the stock outperform, and two members rating it underperform. Among 33 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 33 give Progressive Waste Solutions a green thumbs-up, and give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Progressive Waste Solutions is outperform, with an average price target of $25.17.
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