Costamare (NYSE: CMRE ) reported earnings on Oct. 23. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended Sep. 30 (Q3), Costamare missed estimates on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue contracted and GAAP earnings per share contracted significantly.
Margins dropped across the board.
Costamare logged revenue of $94.9 million. The two analysts polled by S&P Capital IQ predicted a top line of $97.2 million on the same basis. GAAP reported sales were 5.0% lower than the prior-year quarter's $99.9 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 $0.31. The five earnings estimates compiled by S&P Capital IQ averaged $0.27 per share. GAAP EPS of $0.18 for Q3 were 38% lower than the prior-year quarter's $0.29 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 65.4%, 330 basis points worse than the prior-year quarter. Operating margin was 38.9%, 480 basis points worse than the prior-year quarter. Net margin was 13.2%, 420 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $100.2 million. On the bottom line, the average EPS estimate is $0.32.
Next year's average estimate for revenue is $394.9 million. The average EPS estimate is $1.32.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Costamare is outperform, with an average price target of $18.25.
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