The 10-second takeaway
For the quarter ended March 31 (Q1), Teekay Tankers met expectations on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue was unchanged and GAAP earnings per share shrank significantly.
Margins dropped across the board.
Teekay Tankers booked revenue of $31.9 million. The five analysts polled by S&P Capital IQ predicted sales of $31.9 million on the same basis. GAAP reported sales were 0.1% higher than the prior-year quarter's $29.0 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 $0.04. The seven earnings estimates compiled by S&P Capital IQ predicted $0.05 per share. GAAP EPS of $0.06 for Q1 were 50% lower than the prior-year quarter's $0.12 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 55.2%, 960 basis points worse than the prior-year quarter. Operating margin was 11.0%, 910 basis points worse than the prior-year quarter. Net margin was 14.3%, 1,020 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $32.4 million. On the bottom line, the average EPS estimate is $0.03.
Next year's average estimate for revenue is $159.9 million. The average EPS estimate is $0.15.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 258 members out of 271 rating the stock outperform, and 13 members rating it underperform. Among 44 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 41 give Teekay Tankers a green thumbs-up, and three give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Teekay Tankers is outperform, with an average price target of $5.20.
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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.