The 10-second takeaway
For the quarter ended March 31 (Q1), Core Laboratories beat expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue grew. GAAP earnings per share expanded.
Gross margins grew, operating margins grew, net margins contracted.
Core Laboratories reported revenue of $260.9 million. The 12 analysts polled by S&P Capital IQ foresaw revenue of $247.2 million on the same basis. GAAP reported sales were 11% higher than the prior-year quarter's $234.2 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 $1.22. The 14 earnings estimates compiled by S&P Capital IQ forecast $1.15 per share. GAAP EPS of $1.22 for Q1 were 8.0% higher than the prior-year quarter's $1.13 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 37.3%, 100 basis points better than the prior-year quarter. Operating margin was 30.3%, 70 basis points better than the prior-year quarter. Net margin was 21.7%, 130 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $261.5 million. On the bottom line, the average EPS estimate is $1.26.
Next year's average estimate for revenue is $1.06 billion. The average EPS estimate is $5.15.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 631 members out of 643 rating the stock outperform, and 12 members rating it underperform. Among 124 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 124 give Core Laboratories 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 Core Laboratories is outperform, with an average price target of $128.79.
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