Cal Dive International
The 10-second takeaway
For the quarter ended March 31 (Q1), Cal Dive International whiffed on revenue and missed expectations on earnings per share.
Compared to the prior-year quarter, revenue contracted significantly and GAAP loss per share increased.
Margins shrank across the board.
Cal Dive International reported revenue of $60.0 million. The three analysts polled by S&P Capital IQ anticipated sales of $83.9 million on the same basis. GAAP reported sales were 37% lower than the prior-year quarter's $95.4 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 -$0.25. The four earnings estimates compiled by S&P Capital IQ predicted -$0.22 per share. GAAP EPS were -$0.26 for Q1 versus -$0.20 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 -27.4%, 1,980 basis points worse than the prior-year quarter. Operating margin was -49.8%, 2,550 basis points worse than the prior-year quarter. Net margin was -40.5%, 2,090 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $162.5 million. On the bottom line, the average EPS estimate is $0.06.
Next year's average estimate for revenue is $575.2 million. The average EPS estimate is $0.11.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 520 members out of 541 rating the stock outperform, and 21 members rating it underperform. Among 128 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 122 give Cal Dive International a green thumbs-up, and six give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Cal Dive International is outperform, with an average price target of $4.90.
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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.