The 10-second takeaway
For the quarter ended Dec. 31 (Q4), Teekay Tankers beat slightly on revenues and missed expectations on earnings per share.
Compared to the prior-year quarter, revenue contracted, and GAAP earnings per share dropped to a loss.
Margins shrank across the board.
Teekay Tankers reported revenue of $27.3 million. The two analysts polled by S&P Capital IQ predicted revenue of $26.8 million on the same basis. GAAP reported sales were 29% lower than the prior-year quarter's $39.7 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
Non-GAAP EPS came in at -$0.02. The five earnings estimates compiled by S&P Capital IQ predicted -$0.01 per share on the same basis. GAAP EPS were -$0.01 for Q4 against $0.17 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 50.4%, 980 basis points worse than the prior-year quarter. Operating margin was 5.3%, 500 basis points worse than the prior-year quarter. Net margin was -1.7%, 2,260 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $30 million. On the bottom line, the average EPS estimate is $0.05.
Next year's average estimate for revenue is $89.6 million. The average EPS estimate is $0.06.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 239 members rating the stock outperform and 12 members rating it underperform. Among 55 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 54 give Teekay Tankers a green thumbs-up, and one gives it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Teekay Tankers is hold, with an average price target of $5.46.
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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. 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.