The 10-second takeaway
For the quarter ended June 30 (Q2), CARBO Ceramics beat expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue dropped. GAAP earnings per share shrank significantly.
Margins contracted across the board.
CARBO Ceramics booked revenue of $153.7 million. The seven analysts polled by S&P Capital IQ wanted to see revenue of $145.6 million on the same basis. GAAP reported sales were 13% lower than the prior-year quarter's $177.6 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 $0.71. The 11 earnings estimates compiled by S&P Capital IQ predicted $0.66 per share. GAAP EPS of $0.71 for Q2 were 49% lower than the prior-year quarter's $1.38 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 25.6%, much worse than the prior-year quarter. Operating margin was 15.5%, much worse than the prior-year quarter. Net margin was 10.6%, 740 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $153.1 million. On the bottom line, the average EPS estimate is $0.80.
Next year's average estimate for revenue is $598.4 million. The average EPS estimate is $3.13.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 399 members out of 428 rating the stock outperform, and 29 members rating it underperform. Among 118 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 111 give CARBO Ceramics a green thumbs-up, and seven give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on CARBO Ceramics is hold, with an average price target of $77.69.
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