The 10-second takeaway
For the quarter ended Dec. 31 (Q4), Safe Bulkers met expectations on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue increased. Non-GAAP earnings per share dropped significantly. GAAP earnings per share grew significantly.
Gross margins dropped, operating margins expanded, net margins expanded.
Safe Bulkers logged revenue of $46.4 million. The six analysts polled by S&P Capital IQ foresaw net sales of $46.3 million on the same basis. GAAP reported sales were 8.0% higher than the prior-year quarter's $42.9 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 $0.27. The eight earnings estimates compiled by S&P Capital IQ anticipated $0.29 per share. Non-GAAP EPS of $0.27 for Q4 were 21% lower than the prior-year quarter's $0.34 per share. GAAP EPS of $0.42 for Q4 were 27% higher 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 75.9%, 560 basis points worse than the prior-year quarter. Operating margin was 76.3%, 1,610 basis points better than the prior-year quarter. Net margin was 69.5%, 1,460 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $41.2 million. On the bottom line, the average EPS estimate is $0.20.
Next year's average estimate for revenue is $163.0 million. The average EPS estimate is $0.74.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 255 members out of 273 rating the stock outperform, and 18 members rating it underperform. Among 83 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 80 give Safe Bulkers a green thumbs-up, and three give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Safe Bulkers is hold, with an average price target of $4.74.
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