Vale (NYSE: VALE ) reported earnings on Oct. 24. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended Sep. 30 (Q3), Vale crushed expectations on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue was unchanged and GAAP earnings per share dropped significantly.
Margins dropped across the board.
Vale booked revenue of $16.36 billion. The 10 analysts polled by S&P Capital IQ expected a top line of $10.48 billion on the same basis. GAAP reported sales were 29% lower than the prior-year quarter's $15.10 billion.
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 $0.32. The 14 earnings estimates compiled by S&P Capital IQ predicted $0.51 per share. GAAP EPS of $0.32 for Q3 were 60% lower than the prior-year quarter's $0.81 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 43.2%, 1,940 basis points worse than the prior-year quarter. Operating margin was 25.0%, 2,660 basis points worse than the prior-year quarter. Net margin was 15.3%, 1,290 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $11.28 billion. On the bottom line, the average EPS estimate is $0.54.
Next year's average estimate for revenue is $45.63 billion. The average EPS estimate is $2.20.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 6,447 members out of 6,612 rating the stock outperform, and 165 members rating it underperform. Among 1,146 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 1,104 give Vale a green thumbs-up, and 42 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Vale is outperform, with an average price target of $23.30.
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