The 10-second takeaway
For the quarter ended June 30 (Q2), Intrepid Potash beat expectations on revenues and met expectations on earnings per share.
Compared to the prior-year quarter, revenue contracted significantly and GAAP earnings per share shrank significantly.
Margins contracted across the board.
Intrepid Potash tallied revenue of $98.8 million. The four analysts polled by S&P Capital IQ anticipated revenue of $96.6 million on the same basis. GAAP reported sales were 16% lower than the prior-year quarter's $108.9 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 $0.25. The nine earnings estimates compiled by S&P Capital IQ averaged $0.25 per share. GAAP EPS of $0.25 for Q2 were 39% lower than the prior-year quarter's $0.41 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 43.9%, 670 basis points worse than the prior-year quarter. Operating margin was 34.1%, 1,250 basis points worse than the prior-year quarter. Net margin was 20.9%, 730 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $130.2 million. On the bottom line, the average EPS estimate is $0.38.
Next year's average estimate for revenue is $463.5 million. The average EPS estimate is $1.29.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Intrepid Potash is hold, with an average price target of $25.00.
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