Overseas Shipholding Group
The 10-second takeaway
For the quarter ended June 30 (Q2), Overseas Shipholding Group beat expectations on revenues and exceeded expectations on earnings per share.
Compared to the prior-year quarter, revenue improved and GAAP loss per share expanded.
Gross margins expanded, operating margins grew, and net margins contracted.
Overseas Shipholding Group reported revenue of $291.4 million. The two analysts polled by S&P Capital IQ expected to see sales of $249.9 million on the same basis. GAAP reported sales were 7.2% higher than the prior-year quarter's $271.7 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 -$1.52. The six earnings estimates compiled by S&P Capital IQ forecast -$1.55 per share. GAAP EPS were -$1.83 for Q2 against -$1.24 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 15.1%, 50 basis points better than the prior-year quarter. Operating margin was -9.1%, 30 basis points better than the prior-year quarter. Net margin was -19.0%, 530 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $201.4 million. On the bottom line, the average EPS estimate is -$2.01.
Next year's average estimate for revenue is $910.0 million. The average EPS estimate is -$5.50.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Overseas Shipholding Group is hold, with an average price target of $12.08.
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