The 10-second takeaway
For the quarter ended March 31 (Q1), Kinross Gold beat slightly on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue grew slightly. Non-GAAP earnings per share dropped significantly. GAAP earnings per share grew significantly.
Gross margins shrank, operating margins shrank, net margins increased.
Kinross Gold reported revenue of $1.06 billion. The eight analysts polled by S&P Capital IQ expected revenue of $1.04 billion on the same basis. GAAP reported sales were the same as the prior-year quarter's.
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 $0.15. The 21 earnings estimates compiled by S&P Capital IQ anticipated $0.14 per share. Non-GAAP EPS of $0.15 for Q1 were 17% lower than the prior-year quarter's $0.18 per share. (The prior-year quarter included $0.01 per share in earnings from discontinued operations.) GAAP EPS of $0.14 for Q1 were 56% higher than the prior-year quarter's $0.09 per share. (The prior-year quarter included $0.01 per share in earnings from discontinued operations.)
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 55.0%, 10 basis points worse than the prior-year quarter. Operating margin was 23.7%, 590 basis points worse than the prior-year quarter. Net margin was 15.2%, 470 basis points better than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $993.1 million. On the bottom line, the average EPS estimate is $0.11.
Next year's average estimate for revenue is $4.10 billion. The average EPS estimate is $0.52.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 1,376 members out of 1,437 rating the stock outperform, and 61 members rating it underperform. Among 150 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 133 give Kinross Gold a green thumbs-up, and 17 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Kinross Gold is outperform, with an average price target of $11.20.
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