The 10-second takeaway
For the quarter ended March 31 (Q1), Boise missed estimates on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue dropped. Non-GAAP earnings per share dropped significantly. GAAP earnings per share contracted to a loss.
Margins shrank across the board.
Boise booked revenue of $607.0 million. The five analysts polled by S&P Capital IQ predicted sales of $633.8 million on the same basis. GAAP reported sales were 5.9% lower than the prior-year quarter's $644.8 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 $0.02. The four earnings estimates compiled by S&P Capital IQ averaged $0.09 per share. Non-GAAP EPS of $0.02 for Q1 were 90% lower than the prior-year quarter's $0.21 per share. GAAP EPS were -$0.01 for Q1 versus $0.21 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 17.2%, 410 basis points worse than the prior-year quarter. Operating margin was 2.2%, 550 basis points worse than the prior-year quarter. Net margin was -0.2%, 350 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $639.7 million. On the bottom line, the average EPS estimate is $0.15.
Next year's average estimate for revenue is $2.58 billion. The average EPS estimate is $0.74.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 211 members out of 233 rating the stock outperform, and 22 members rating it underperform. Among 59 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 53 give Boise a green thumbs-up, and six give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Boise is outperform, with an average price target of $10.25.
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