The 10-second takeaway
For the quarter ended Dec. 31 (Q4), Seaspan beat slightly on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue grew. Non-GAAP earnings per share dropped. GAAP earnings per share expanded significantly.
Gross margins increased, operating margins shrank, net margins expanded.
Seaspan reported revenue of $169.8 million. The six analysts polled by S&P Capital IQ anticipated revenue of $168.1 million on the same basis. GAAP reported sales were 9.4% higher than the prior-year quarter's $155.2 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 $0.27. The eight earnings estimates compiled by S&P Capital IQ averaged $0.28 per share. Non-GAAP EPS of $0.27 for Q4 were 13% lower than the prior-year quarter's $0.31 per share. GAAP EPS of $0.59 for Q4 were 321% higher than the prior-year quarter's $0.14 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 77.6%, 70 basis points better than the prior-year quarter. Operating margin was 48.6%, 80 basis points worse than the prior-year quarter. Net margin was 34.7%, much better than the prior-year quarter.
Next quarter's average estimate for revenue is $164.0 million. On the bottom line, the average EPS estimate is $0.25.
Next year's average estimate for revenue is $667.5 million. The average EPS estimate is $1.07.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 831 members out of 867 rating the stock outperform, and 36 members rating it underperform. Among 212 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 203 give Seaspan 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 Seaspan is hold, with an average price target of $17.50.
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