The 10-second takeaway
For the quarter ended Sep. 30 (Q3), Intrepid Potash beat expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue increased and GAAP earnings per share grew significantly.
Gross margins dropped, operating margins contracted, net margins expanded.
Intrepid Potash tallied revenue of $129.4 million. The eight analysts polled by S&P Capital IQ expected to see a top line of $119.1 million on the same basis. GAAP reported sales were 12% higher than the prior-year quarter's $102.8 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 $0.38. The 13 earnings estimates compiled by S&P Capital IQ predicted $0.35 per share. GAAP EPS of $0.44 for Q3 were 29% higher than the prior-year quarter's $0.34 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 44.9%, 90 basis points worse than the prior-year quarter. Operating margin was 37.7%, 290 basis points worse than the prior-year quarter. Net margin was 28.8%, 400 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $119.8 million. On the bottom line, the average EPS estimate is $0.32.
Next year's average estimate for revenue is $443.8 million. The average EPS estimate is $1.20.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Intrepid Potash is outperform, with an average price target of $25.58.
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