Fool Checkup: Chiquita Brands International Earnings

Just the facts, Fool.

Seth Jayson
Seth Jayson
Mar 12, 2013 at 12:00AM
Other

Chiquita Brands International (NYSE: CQB) reported earnings on March 11. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended Dec. 31 (Q4), Chiquita Brands International met expectations on revenues and exceeded expectations on earnings per share.

Compared to the prior-year quarter, revenue increased slightly. Non-GAAP loss per share grew. GAAP loss per share increased.

Margins contracted across the board.

Revenue details
Chiquita Brands International logged revenue of $738.0 million. The one analyst polled by S&P Capital IQ expected revenue of $737.8 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 details
EPS came in at -$0.24. The two earnings estimates compiled by S&P Capital IQ predicted -$0.34 per share. Non-GAAP EPS were -$0.24 for Q4 versus -$0.12 per share for the prior-year quarter. GAAP EPS were -$7.24 for Q4 compared to -$0.36 per share for the prior-year quarter.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Margin details
For the quarter, gross margin was 9.6%, 60 basis points worse than the prior-year quarter. Operating margin was -2.3%, 150 basis points worse than the prior-year quarter. Net margin was -45.4%, much worse than the prior-year quarter. (Margins calculated in GAAP terms.)


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Looking ahead
Next quarter's average estimate for revenue is $826.8 million. On the bottom line, the average EPS estimate is $0.20.

Next year's average estimate for revenue is $3.11 billion. The average EPS estimate is $0.80.

Investor sentiment
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 272 members out of 316 rating the stock outperform, and 44 members rating it underperform. Among 73 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 62 give Chiquita Brands International a green thumbs-up, and 11 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Chiquita Brands International is outperform, with an average price target of $12.00.

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