The 10-second takeaway
For the quarter ended Sep. 30 (Q3), CARBO Ceramics met expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue contracted and GAAP earnings per share dropped significantly.
Margins contracted across the board.
CARBO Ceramics recorded revenue of $151.1 million. The four analysts polled by S&P Capital IQ anticipated sales of $153.4 million on the same basis. GAAP reported sales were 9.5% lower than the prior-year quarter's $167.1 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 $1.04. The 10 earnings estimates compiled by S&P Capital IQ anticipated $0.99 per share. GAAP EPS of $1.04 for Q3 were 35% lower than the prior-year quarter's $1.59 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 33.2%, 1,030 basis points worse than the prior-year quarter. Operating margin was 23.2%, 1,030 basis points worse than the prior-year quarter. Net margin was 15.8%, 630 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $145.7 million. On the bottom line, the average EPS estimate is $0.94.
Next year's average estimate for revenue is $644.4 million. The average EPS estimate is $4.60.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 428 members out of 456 rating the stock outperform, and 28 members rating it underperform. Among 112 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 105 give CARBO Ceramics a green thumbs-up, and seven give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on CARBO Ceramics is hold, with an average price target of $71.86.
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