The 10-second takeaway
For the quarter ended March 31 (Q1), Teekay beat expectations on revenues and exceeded expectations on earnings per share.
Compared to the prior-year quarter, revenue expanded slightly and GAAP earnings per share grew.
Margins expanded across the board.
Teekay logged revenue of $495.6 million. The three analysts polled by S&P Capital IQ expected sales of $476.1 million on the same basis. GAAP reported sales were 1.5% higher than the prior-year quarter's $488.0 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 -$0.30. The seven earnings estimates compiled by S&P Capital IQ forecast -$0.35 per share. GAAP EPS were $0.02 for Q1 compared to -$0.41 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 49.6%, 490 basis points better than the prior-year quarter. Operating margin was 15.7%, 460 basis points better than the prior-year quarter. Net margin was 0.2%, 630 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $462.2 million. On the bottom line, the average EPS estimate is -$0.35.
Next year's average estimate for revenue is $1.91 billion. The average EPS estimate is -$0.54.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 199 members out of 216 rating the stock outperform, and 17 members rating it underperform. Among 54 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 49 give Teekay a green thumbs-up, and five give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Teekay is outperform, with an average price target of $34.33.
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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.