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Libbey (AMEX: LBY) reported earnings on July 26. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended June 30 (Q2), Libbey missed estimates on revenues and crushed expectations on earnings per share.
Compared to the prior-year quarter, revenue shrank slightly and GAAP earnings per share dropped to a loss.
Gross margins grew, operating margins increased, net margins contracted.
Libbey chalked up revenue of $210.0 million. The two analysts polled by S&P Capital IQ wanted to see revenue of $218.5 million on the same basis. GAAP reported sales were 2.3% lower than the prior-year quarter's $214.9 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 $0.98. The two earnings estimates compiled by S&P Capital IQ anticipated $0.48 per share. GAAP EPS were -$0.49 for Q2 against $0.74 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 26.8%, 360 basis points better than the prior-year quarter. Operating margin was 13.8%, 250 basis points better than the prior-year quarter. Net margin was -4.8%, 1,200 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $213.3 million. On the bottom line, the average EPS estimate is $0.44.
Next year's average estimate for revenue is $844.6 million. The average EPS estimate is $1.17.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 43 members out of 61 rating the stock outperform, and 18 members rating it underperform. Among 13 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), eight give Libbey a green thumbs-up, and five give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Libbey is outperform, with an average price target of $21.00.
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