Chiquita Brands International
The 10-second takeaway
For the quarter ended Sep. 30 (Q3), Chiquita Brands International beat expectations on revenues and missed expectations on earnings per share.
Compared to the prior-year quarter, revenue contracted slightly and GAAP loss per share grew.
Margins contracted across the board.
Chiquita Brands International reported revenue of $714.0 million. The two analysts polled by S&P Capital IQ looked for revenue of $681.7 million on the same basis. GAAP reported sales were 1.2% lower than the prior-year quarter's $722.8 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 -$0.47. The two earnings estimates compiled by S&P Capital IQ forecast -$0.25 per share. GAAP EPS were -$1.45 for Q3 compared to -$0.63 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 9.9%, 150 basis points worse than the prior-year quarter. Operating margin was -2.1%, 90 basis points worse than the prior-year quarter. Net margin was -9.4%, 540 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $677.5 million. On the bottom line, the average EPS estimate is -$0.18.
Next year's average estimate for revenue is $2.99 billion. The average EPS estimate is -$0.14.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 273 members out of 318 rating the stock outperform, and 45 members rating it underperform. Among 70 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 59 give Chiquita Brands International a green thumbs-up, and 11 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Chiquita Brands International is outperform, with an average price target of $7.50.
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