The 10-second takeaway
For the quarter ended June 30 (Q2), Diana Shipping beat expectations on revenue and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue contracted and GAAP earnings per share dropped significantly.
Margins contracted across the board.
Diana Shipping reported revenue of $58.2 million. The seven analysts polled by S&P Capital IQ looked for revenue of $55.8 million on the same basis. GAAP reported sales were 10% lower than the prior-year quarter's $64.9 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 $0.21. The 10 earnings estimates compiled by S&P Capital IQ forecast $0.19 per share. GAAP EPS of $0.21 for Q2 were 38% lower than the prior-year quarter's $0.34 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 68.6%, 560 basis points worse than the prior-year quarter. Operating margin was 31.0%, 1,280 basis points worse than the prior-year quarter. Net margin was 29.9%, 1,270 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $54.4 million. On the bottom line, the average EPS estimate is $0.15.
Next year's average estimate for revenue is $218.9 million. The average EPS estimate is $0.70.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 2,442 members out of 2,513 rating the stock outperform, and 71 members rating it underperform. Among 398 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 380 give Diana Shipping a green thumbs-up, and 18 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Diana Shipping is outperform, with an average price target of $9.81.
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