The 10-second takeaway
For the quarter ended Dec. 31 (Q4), Teekay beat expectations on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue shrank. Non-GAAP earnings per share increased. GAAP earnings per share contracted to a loss.
Margins contracted across the board.
Teekay logged revenue of $484.4 million. The four analysts polled by S&P Capital IQ predicted revenue of $475.0 million on the same basis. GAAP reported sales were the same as the prior-year quarter's.
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 six earnings estimates compiled by S&P Capital IQ predicted $0.06 per share. Non-GAAP EPS of $0.04 for Q4 were 100% higher than the prior-year quarter's $0.02 per share. GAAP EPS were -$1.35 for Q4 versus $0.70 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 48.2%, 120 basis points worse than the prior-year quarter. Operating margin was 16.7%, 100 basis points worse than the prior-year quarter. Net margin was -18.2%, much worse than the prior-year quarter.
Next quarter's average estimate for revenue is $455.5 million. On the bottom line, the average EPS estimate is -$0.06.
Next year's average estimate for revenue is $1.94 billion. The average EPS estimate is $0.03.
The stock has a two-star rating (out of five) at Motley Fool CAPS, with 194 members out of 213 rating the stock outperform, and 19 members rating it underperform. Among 56 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 51 give Teekay 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 Teekay is outperform, with an average price target of $36.57.
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