The 10-second takeaway
For the quarter ended Sep. 30 (Q3), Diana Shipping beat expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue dropped and GAAP earnings per share contracted significantly.
Margins dropped across the board.
Diana Shipping booked revenue of $56.8 million. The nine analysts polled by S&P Capital IQ hoped for revenue of $53.8 million on the same basis. GAAP reported sales were 12% lower than the prior-year quarter's $64.6 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 $0.15. The 12 earnings estimates compiled by S&P Capital IQ averaged $0.14 per share. GAAP EPS of $0.15 for Q3 were 55% lower than the prior-year quarter's $0.33 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 68.3%, 510 basis points worse than the prior-year quarter. Operating margin was 29.2%, 1,290 basis points worse than the prior-year quarter. Net margin was 21.6%, 1,930 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $50.3 million. On the bottom line, the average EPS estimate is $0.09.
Next year's average estimate for revenue is $219.4 million. The average EPS estimate is $0.63.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 2,415 members out of 2,485 rating the stock outperform, and 70 members rating it underperform. Among 408 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 393 give Diana Shipping a green thumbs-up, and 15 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Diana Shipping is outperform, with an average price target of $8.95.
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