The 10-second takeaway
For the quarter ended Sep. 30 (Q3), Macquarie Infrastructure met expectations on revenues and missed expectations on earnings per share.
Compared to the prior-year quarter, revenue expanded and GAAP earnings per share contracted to a loss.
Margins dropped across the board.
Macquarie Infrastructure booked revenue of $259.3 million. The three analysts polled by S&P Capital IQ looked for net sales of $260.6 million on the same basis. GAAP reported sales were 3.1% higher than the prior-year quarter's $251.6 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 -$0.04. The two earnings estimates compiled by S&P Capital IQ predicted $0.18 per share. GAAP EPS were -$0.04 for Q3 against $0.14 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 39.2%, 20 basis points worse than the prior-year quarter. Operating margin was 1.6%, 1,000 basis points worse than the prior-year quarter. Net margin was -0.7%, 320 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $264.9 million. On the bottom line, the average EPS estimate is $0.26.
Next year's average estimate for revenue is $1.04 billion. The average EPS estimate is $0.05.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 367 members out of 390 rating the stock outperform, and 23 members rating it underperform. Among 123 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 118 give Macquarie Infrastructure a green thumbs-up, and five give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Macquarie Infrastructure is buy, with an average price target of $47.00.
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