The 10-second takeaway
For the quarter ended June 30 (Q2), Northwest Pipe missed estimates on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue contracted and GAAP earnings per share shrank significantly.
Margins dropped across the board.
Northwest Pipe logged revenue of $131.0 million. The three analysts polled by S&P Capital IQ anticipated a top line of $142.2 million on the same basis. GAAP reported sales were 8.9% lower than the prior-year quarter's $143.8 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 $0.38. The two earnings estimates compiled by S&P Capital IQ averaged $0.31 per share. GAAP EPS of $0.38 for Q2 were 28% lower than the prior-year quarter's $0.53 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 10.4%, 120 basis points worse than the prior-year quarter. Operating margin was 5.3%, 140 basis points worse than the prior-year quarter. Net margin was 2.8%, 70 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $161.3 million. On the bottom line, the average EPS estimate is $0.67.
Next year's average estimate for revenue is $584.6 million. The average EPS estimate is $1.92.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 227 members out of 237 rating the stock outperform, and 10 members rating it underperform. Among 47 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 43 give Northwest Pipe a green thumbs-up, and four give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Northwest Pipe is outperform, with an average price target of $27.50.
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