Chiquita Brands International
The 10-second takeaway
For the quarter ended March 31 (Q1), Chiquita Brands International beat expectations on revenue and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue dropped and GAAP earnings per share shrank to a loss.
Margins dropped across the board.
Chiquita Brands International chalked up revenue of $793.0 million. The four analysts polled by S&P Capital IQ expected revenue of $768.1 million on the same basis. GAAP reported sales were 3.8% lower than the prior-year quarter's $824.5 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 $0.04. The four earnings estimates compiled by S&P Capital IQ predicted $0.31 per share. GAAP EPS were -$0.24 for Q1 versus $0.52 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 11.3%, 520 basis points worse than the prior-year quarter. Operating margin was 0.6%, 480 basis points worse than the prior-year quarter. Net margin was -1.4%, 430 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $852.5 million. On the bottom line, the average EPS estimate is $0.69.
Next year's average estimate for revenue is $3.07 billion. The average EPS estimate is $0.88.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 260 members out of 305 rating the stock outperform, and 45 members rating it underperform. Among 61 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 52 give Chiquita Brands International a green thumbs-up, and nine give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Chiquita Brands International is outperform, with an average price target of $16.33.
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