The 10-second takeaway
For the quarter ended Sep. 30 (Q3), Horsehead Holding whiffed on revenues and missed expectations on earnings per share.
Compared to the prior-year quarter, revenue shrank and GAAP earnings per share dropped to a loss.
Margins shrank across the board.
Horsehead Holding logged revenue of $100.4 million. The five analysts polled by S&P Capital IQ foresaw revenue of $115.2 million on the same basis. GAAP reported sales were 31% lower than the prior-year quarter's $145.8 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 -$0.21. The five earnings estimates compiled by S&P Capital IQ predicted -$0.02 per share. GAAP EPS were -$0.21 for Q3 versus $0.52 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 -0.1%, 3,420 basis points worse than the prior-year quarter. Operating margin was -11.2%, 3,780 basis points worse than the prior-year quarter. Net margin was -9.1%, 2,490 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $118.4 million. On the bottom line, the average EPS estimate is $0.01.
Next year's average estimate for revenue is $470.5 million. The average EPS estimate is -$0.23.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 723 members out of 740 rating the stock outperform, and 17 members rating it underperform. Among 218 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 217 give Horsehead Holding 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 Horsehead Holding is buy, with an average price target of $13.80.
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