Chemtura (NYSE: CHMT ) reported earnings on July 30. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended June 30 (Q2), Chemtura met expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue shrank. Non-GAAP earnings per share dropped significantly. GAAP earnings per share dropped to a loss.
Gross margins were steady, operating margins dropped, net margins dropped.
Chemtura recorded revenue of $735.0 million. The one analyst polled by S&P Capital IQ predicted sales of $735.0 million on the same basis. GAAP reported sales were 13% lower than the prior-year quarter's $845.0 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 $0.40. The seven earnings estimates compiled by S&P Capital IQ averaged $0.36 per share. Non-GAAP EPS of $0.40 for Q2 were 34% lower than the prior-year quarter's $0.61 per share. GAAP EPS were -$0.93 for Q2 versus $0.50 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 25.4%, much about the same as the prior-year quarter. Operating margin was 10.6%, 60 basis points worse than the prior-year quarter. Net margin was -12.7%, much worse than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $672.0 million. On the bottom line, the average EPS estimate is $0.34.
Next year's average estimate for revenue is $2.65 billion. The average EPS estimate is $1.13.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 29 members out of 34 rating the stock outperform, and five members rating it underperform. Among 11 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 10 give Chemtura a green thumbs-up, and one give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Chemtura is outperform, with an average price target of $28.25.
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