Horsehead Holding
The 10-second takeaway
For the quarter ended June 30 (Q2), Horsehead Holding missed estimates on revenues and missed expectations on earnings per share.
Compared to the prior-year quarter, revenue grew significantly and GAAP loss per share dropped.
Margins expanded across the board.
Revenue details
Horsehead Holding tallied revenue of $117.5 million. The five analysts polled by S&P Capital IQ predicted net sales of $121.6 million on the same basis. GAAP reported sales were 23% higher than the prior-year quarter's $95.8 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS details
EPS came in at -$0.04. The five earnings estimates compiled by S&P Capital IQ averaged $0.04 per share. GAAP EPS were -$0.04 for Q2 versus -$0.08 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
Margin details
For the quarter, gross margin was 8.9%, 170 basis points better than the prior-year quarter. Operating margin was -0.9%, 260 basis points better than the prior-year quarter. Net margin was -1.4%, 240 basis points better than the prior-year quarter.
Looking ahead
Next quarter's average estimate for revenue is $120.9 million. On the bottom line, the average EPS estimate is $0.02.
Next year's average estimate for revenue is $483.0 million. The average EPS estimate is -$0.24.
Investor sentiment
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 719 members out of 736 rating the stock outperform, and 17 members rating it underperform. Among 203 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 201 give Horsehead Holding 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 Horsehead Holding is buy, with an average price target of $14.75.
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