Standard Pacific Hits Estimates in Solid Quarter

Standard Pacific (NYSE: SPF  ) reported earnings on May 2. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended March 31 (Q1), Standard Pacific met expectations on revenues and met expectations on earnings per share.

Compared to the prior-year quarter, revenue grew significantly. GAAP earnings per share grew significantly.

Margins grew across the board.

Revenue details
Standard Pacific chalked up revenue of $357.7 million. The eight analysts polled by S&P Capital IQ expected to see revenue of $354.8 million on the same basis. GAAP reported sales were 60% higher than the prior-year quarter's $227.3 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 averaged $0.05 per share. GAAP EPS of $0.05 for Q1 were 150% higher than the prior-year quarter's $0.02 per share.

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 21.2%, 90 basis points better than the prior-year quarter. Operating margin was 8.4%, 470 basis points better than the prior-year quarter. Net margin was 6.0%, 230 basis points better than the prior-year quarter. (Margins calculated in GAAP terms.)

Looking ahead
Next quarter's average estimate for revenue is $441.1 million. On the bottom line, the average EPS estimate is $0.08.

Next year's average estimate for revenue is $1.89 billion. The average EPS estimate is $0.35.

Investor sentiment
The stock has a two-star rating (out of five) at Motley Fool CAPS, with 370 members out of 618 rating the stock outperform, and 248 members rating it underperform. Among 150 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 79 give Standard Pacific a green thumbs-up, and 71 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Standard Pacific is hold, with an average price target of $7.21.

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Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.


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