Tsakos Energy Navigation
The 10-second takeaway
For the quarter ended Sep. 30 (Q3), Tsakos Energy Navigation crushed expectations on revenues and exceeded expectations on earnings per share.
Compared to the prior-year quarter, revenue shrank slightly and GAAP loss per share shrank.
Margins grew across the board.
Tsakos Energy Navigation booked revenue of $92.4 million. The three analysts polled by S&P Capital IQ foresaw net sales of $67.0 million on the same basis. GAAP reported sales were 1.5% lower than the prior-year quarter's $93.9 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 -$0.18. The five earnings estimates compiled by S&P Capital IQ predicted -$0.19 per share. GAAP EPS were -$0.18 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 35.9%, 950 basis points better than the prior-year quarter. Operating margin was 0.9%, 1,080 basis points better than the prior-year quarter. Net margin was -11.2%, 1,440 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $72.5 million. On the bottom line, the average EPS estimate is -$0.16.
Next year's average estimate for revenue is $274.6 million. The average EPS estimate is -$0.63.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 740 members out of 766 rating the stock outperform, and 26 members rating it underperform. Among 163 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 154 give Tsakos Energy Navigation a green thumbs-up, and nine give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Tsakos Energy Navigation is outperform, with an average price target of $8.26.
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Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. The Motley Fool has no positions in the stocks mentioned above. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.