Capital Product Partners
The 10-second takeaway
For the quarter ended June 30 (Q2), Capital Product Partners met expectations on revenues and missed expectations on earnings per share.
Compared to the prior-year quarter, revenue grew significantly and GAAP earnings per share dropped to a loss.
Gross margins expanded, operating margins grew, and net margins contracted.
Capital Product Partners notched revenue of $37.8 million. The five analysts polled by S&P Capital IQ foresaw a top line of $37.9 million on the same basis. GAAP reported sales were 36% higher than the prior-year quarter's $27.9 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 -$0.03. The four earnings estimates compiled by S&P Capital IQ predicted $0.03 per share. GAAP EPS were -$0.01 for Q2 compared to $0.37 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 69.0%, 120 basis points better than the prior-year quarter. Operating margin was 31.2%, 550 basis points better than the prior-year quarter. Net margin was 8.9%, 4,550 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $38.8 million. On the bottom line, the average EPS estimate is $0.06.
Next year's average estimate for revenue is $154.6 million. The average EPS estimate is $0.14.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 163 members out of 169 rating the stock outperform, and six members rating it underperform. Among 43 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 41 give Capital Product Partners a green thumbs-up, and two give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Capital Product Partners is outperform, with an average price target of $9.50.
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