The 10-second takeaway
For the quarter ended Dec. 31 (Q4), Atlantic Power whiffed on revenues and missed expectations on earnings per share.
Compared to the prior-year quarter, revenue dropped. Non-GAAP earnings per share shrank to a loss. GAAP loss per share increased.
Gross margins contracted, operating margins expanded, net margins dropped.
Atlantic Power booked revenue of $114.0 million. The one analyst polled by S&P Capital IQ expected revenue of $156.9 million on the same basis. GAAP reported sales were 9.3% lower than the prior-year quarter's $125.6 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 -$0.39. The two earnings estimates compiled by S&P Capital IQ predicted -$0.05 per share. Non-GAAP EPS were -$0.39 for Q4 compared to $0.09 per share for the prior-year quarter. GAAP EPS were -$0.50 for Q4 versus -$0.26 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 29.2%, 940 basis points worse than the prior-year quarter. Operating margin was -3.2%, 400 basis points better than the prior-year quarter. Net margin was -50.9%, much worse than the prior-year quarter.
Next quarter's average estimate for revenue is $134.2 million. On the bottom line, the average EPS estimate is -$0.01.
Next year's average estimate for revenue is $576.7 million. The average EPS estimate is -$0.36.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 96 members out of 107 rating the stock outperform, and 11 members rating it underperform. Among 18 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 15 give Atlantic Power 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 Atlantic Power is hold, with an average price target of $12.50.
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