DryShips
The 10-second takeaway
For the quarter ended Sep. 30 (Q3), DryShips beat expectations on revenues and missed expectations on earnings per share.
Compared to the prior-year quarter, revenue expanded and GAAP earnings per share dropped to a loss.
Margins dropped across the board.
Revenue details
DryShips chalked up revenue of $343.6 million. The six analysts polled by S&P Capital IQ predicted a top line of $335.0 million on the same basis. GAAP reported sales were 8.0% higher than the prior-year quarter's $318.0 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS details
EPS came in at -$0.05. The nine earnings estimates compiled by S&P Capital IQ predicted -$0.01 per share. GAAP EPS were -$0.13 for Q3 versus $0.07 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
Margin details
For the quarter, gross margin was 45.0%, 2,070 basis points worse than the prior-year quarter. Operating margin was 10.1%, 2,560 basis points worse than the prior-year quarter. Net margin was -14.9%, 2,280 basis points worse than the prior-year quarter.
Looking ahead
Next quarter's average estimate for revenue is $304.1 million. On the bottom line, the average EPS estimate is -$0.07.
Next year's average estimate for revenue is $1.21 billion. The average EPS estimate is -$0.18.
Investor sentiment
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 2,924 members out of 3,289 rating the stock outperform, and 365 members rating it underperform. Among 546 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 435 give DryShips a green thumbs-up, and 111 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on DryShips is hold, with an average price target of $3.29.
- Add DryShips to My Watchlist.
