The 10-second takeaway
For the quarter ended Sep. 30 (Q3), Standard Parking beat expectations on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue grew and GAAP earnings per share dropped significantly.
Margins shrank across the board.
Standard Parking tallied revenue of $92.2 million. The five analysts polled by S&P Capital IQ wanted to see a top line of $84.4 million on the same basis. GAAP reported sales were 14% higher than the prior-year quarter's $80.8 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 $0.29. The five earnings estimates compiled by S&P Capital IQ predicted $0.34 per share. GAAP EPS of $0.15 for Q3 were 59% lower than the prior-year quarter's $0.37 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 23.5%, 650 basis points worse than the prior-year quarter. Operating margin was 9.9%, 390 basis points worse than the prior-year quarter. Net margin was 2.6%, 480 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $219.7 million. On the bottom line, the average EPS estimate is $0.26.
Next year's average estimate for revenue is $478.4 million. The average EPS estimate is $1.26.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 18 members out of 18 rating the stock outperform, and members rating it underperform. Among four CAPS All-Star picks (recommendations by the highest-ranked CAPS members), four give Standard Parking 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 Standard Parking is outperform, with an average price target of $23.60.
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