The 10-second takeaway
For the quarter ended Sep. 30 (Q3), Cameron International beat slightly on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue grew significantly and GAAP earnings per share increased significantly.
Gross margins contracted, operating margins dropped, net margins grew.
Cameron International reported revenue of $2.22 billion. The 19 analysts polled by S&P Capital IQ foresaw a top line of $2.19 billion on the same basis. GAAP reported sales were 32% higher than the prior-year quarter's $1.69 billion.
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 $0.91. The 24 earnings estimates compiled by S&P Capital IQ anticipated $0.88 per share. GAAP EPS of $0.90 for Q3 were 34% higher than the prior-year quarter's $0.67 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 29.3%, 330 basis points worse than the prior-year quarter. Operating margin was 13.3%, 170 basis points worse than the prior-year quarter. Net margin was 10.1%, 30 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $2.27 billion. On the bottom line, the average EPS estimate is $1.07.
Next year's average estimate for revenue is $8.32 billion. The average EPS estimate is $3.23.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Cameron International is outperform, with an average price target of $64.39.
Are you missing a big story in the energy space? Read about "One Stock to Own Before Nat Gas Act 2011 Becomes Law." Click here for instant access to this free report.
- Add Cameron International to My Watchlist.