Progressive Waste Solutions (NYSE: BIN ) reported earnings on Oct. 26. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended Sep. 30 (Q3), Progressive Waste Solutions met expectations on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue increased slightly and GAAP earnings per share dropped significantly.
Margins dropped across the board.
Progressive Waste Solutions logged revenue of $491.8 million. The 14 analysts polled by S&P Capital IQ predicted revenue of $494.9 million on the same basis. GAAP reported sales were 0.7% lower than the prior-year quarter's $490.5 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 $0.28. The 12 earnings estimates compiled by S&P Capital IQ anticipated $0.30 per share. GAAP EPS of $0.28 for Q3 were 15% lower than the prior-year quarter's $0.33 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 39.0%, 100 basis points worse than the prior-year quarter. Operating margin was 12.9%, 260 basis points worse than the prior-year quarter. Net margin was 6.6%, 160 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $464.6 million. On the bottom line, the average EPS estimate is $0.29.
Next year's average estimate for revenue is $1.87 billion. The average EPS estimate is $1.05.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 85 members out of 88 rating the stock outperform, and three members rating it underperform. Among 33 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 33 give Progressive Waste Solutions a green thumbs-up, and give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Progressive Waste Solutions is outperform, with an average price target of $24.04.
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