The 10-second takeaway
For the quarter ended March 31 (Q1), Diana Shipping beat expectations on revenues and met expectations on earnings per share.
Compared to the prior-year quarter, revenue shrank significantly and GAAP earnings per share dropped significantly.
Margins dropped across the board.
Diana Shipping reported revenue of $58.2 million. The six analysts polled by S&P Capital IQ expected to see a top line of $54.3 million on the same basis. GAAP reported sales were 16% lower than the prior-year quarter's $69.6 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 one earnings estimate compiled by S&P Capital IQ averaged $0.25 per share. GAAP EPS of $0.25 for Q1 were 39% lower than the prior-year quarter's $0.41 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 71.1%, 690 basis points worse than the prior-year quarter. Operating margin was 35.5%, 1,370 basis points worse than the prior-year quarter. Net margin was 34.3%, 1,330 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $54.9 million. On the bottom line, the average EPS estimate is $0.19.
Next year's average estimate for revenue is $216.7 million. The average EPS estimate is $0.73.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 2,461 members out of 2,528 rating the stock outperform, and 67 members rating it underperform. Among 431 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 418 give Diana Shipping a green thumbs-up, and 13 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Diana Shipping is hold, with an average price target of $9.75.
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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.