Overseas Shipholding Group
The 10-second takeaway
For the quarter ended March 31 (Q1), Overseas Shipholding Group crushed expectations on revenues and missed expectations on earnings per share.
Compared to the prior-year quarter, revenue improved and GAAP loss per share didn't change.
Margins expanded across the board.
Overseas Shipholding Group chalked up revenue of $292.4 million. The two analysts polled by S&P Capital IQ expected a top line of $214.5 million on the same basis. GAAP reported sales were 11% higher than the prior-year quarter's $263.7 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 -$1.22. The four earnings estimates compiled by S&P Capital IQ predicted -$1.06 per share. GAAP EPS of -$1.15 were the same as 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 16.3%, 40 basis points better than the prior-year quarter. Operating margin was -7.8%, 170 basis points better than the prior-year quarter. Net margin was -11.9%, 120 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $228.2 million. On the bottom line, the average EPS estimate is -$1.31.
Next year's average estimate for revenue is $928.6 million. The average EPS estimate is -$4.83.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Overseas Shipholding Group is hold, with an average price target of $12.19.
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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.