The 10-second takeaway
For the quarter ended Sep. 30 (Q3), Scorpio Tankers beat expectations on revenues and exceeded expectations on earnings per share.
Compared to the prior-year quarter, revenue increased significantly and GAAP loss per share grew.
Gross margins dropped, operating margins grew, net margins dropped.
Scorpio Tankers notched revenue of $28.1 million. The four analysts polled by S&P Capital IQ predicted revenue of $23.5 million on the same basis. GAAP reported sales were 31% higher than the prior-year quarter's $21.5 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 -$0.09. The five earnings estimates compiled by S&P Capital IQ averaged -$0.15 per share. GAAP EPS were -$0.30 for Q3 against -$0.22 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 12.1%, 280 basis points worse than the prior-year quarter. Operating margin was -10.0%, 1,270 basis points better than the prior-year quarter. Net margin was -44.5%, 1,240 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $31.8 million. On the bottom line, the average EPS estimate is -$0.03.
Next year's average estimate for revenue is $99.8 million. The average EPS estimate is -$0.30.
The stock has a two-star rating (out of five) at Motley Fool CAPS, with 14 members out of 18 rating the stock outperform, and four members rating it underperform. Among three CAPS All-Star picks (recommendations by the highest-ranked CAPS members), two give Scorpio Tankers a green thumbs-up, and one give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Scorpio Tankers is buy, with an average price target of $7.76.
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