LDK Solar (NYSE: LDK ) reported earnings on June 26. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended March 31 (Q1), LDK Solar whiffed on revenues and missed expectations on earnings per share.
Compared to the prior-year quarter, revenue dropped significantly and GAAP earnings per share contracted to a loss.
Margins contracted across the board.
LDK Solar booked revenue of $200.1 million. The three analysts polled by S&P Capital IQ predicted revenue of $225.5 million on the same basis. GAAP reported sales were 74% lower than the prior-year quarter's $766.3 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 -$1.46. The four earnings estimates compiled by S&P Capital IQ forecast -$0.76 per share. GAAP EPS were -$1.46 for Q1 compared to $0.95 per share for 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 -65.5%, 9,700 basis points worse than the prior-year quarter. Operating margin was -67.9%, 9,350 basis points worse than the prior-year quarter. Net margin was -92.5%, 11,020 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $231.7 million. On the bottom line, the average EPS estimate is -$0.99.
Next year's average estimate for revenue is $1.72 billion. The average EPS estimate is -$2.07.
The stock has a two-star rating (out of five) at Motley Fool CAPS, with 1,372 members out of 1,524 rating the stock outperform, and 152 members rating it underperform. Among 225 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 175 give LDK Solar a green thumbs-up, and 50 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on LDK Solar is underperform, with an average price target of $2.25.
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