Genco Shipping & Trading
The 10-second takeaway
For the quarter ended March 31 (Q1), Genco Shipping & Trading missed estimates on revenues and missed expectations on earnings per share.
Compared to the prior-year quarter, revenue dropped significantly and GAAP earnings per share contracted to a loss.
Margins dropped across the board.
Genco Shipping & Trading booked revenue of $59.8 million. The five analysts polled by S&P Capital IQ wanted to see a top line of $65.7 million on the same basis. GAAP reported sales were 41% lower than the prior-year quarter's $101.4 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 -$0.87. The nine earnings estimates compiled by S&P Capital IQ predicted -$0.74 per share. GAAP EPS were -$0.87 for Q1 compared to $0.38 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 51.1%, 2,350 basis points worse than the prior-year quarter. Operating margin was -20.9%, 5,420 basis points worse than the prior-year quarter. Net margin was -55.3%, 6,850 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $74.6 million. On the bottom line, the average EPS estimate is -$0.53.
Next year's average estimate for revenue is $279.4 million. The average EPS estimate is -$2.37.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Genco Shipping & Trading is underperform, with an average price target of $4.78.
Over the decades, small-cap stocks, like Genco Shipping & Trading have provided market-beating returns, provided they're value priced and have solid businesses. Read about a pair of companies with a lock on their markets in "Too Small to Fail: Two Small Caps the Government Won't Let Go Broke." Click here for instant access to this free report.
- Add Genco Shipping & Trading to My Watchlist.
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.