The 10-second takeaway
For the quarter ended March 31 (Q1), Agnico-Eagle Mines beat expectations on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue contracted. Non-GAAP earnings per share shrank significantly. GAAP earnings per share dropped significantly.
Margins dropped across the board.
Agnico-Eagle Mines reported revenue of $423.2 million. The six analysts polled by S&P Capital IQ looked for revenue of $410.1 million on the same basis. GAAP reported sales were 11% lower than the prior-year quarter's $472.9 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 $0.31. The 19 earnings estimates compiled by S&P Capital IQ averaged $0.32 per share. Non-GAAP EPS of $0.31 for Q1 were 47% lower than the prior-year quarter's $0.59 per share. GAAP EPS of $0.14 for Q1 were 70% lower than the prior-year quarter's $0.46 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 45.6%, 890 basis points worse than the prior-year quarter. Operating margin was 18.2%, much worse than the prior-year quarter. Net margin was 5.6%, much worse than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $413.5 million. On the bottom line, the average EPS estimate is $0.31.
Next year's average estimate for revenue is $1.80 billion. The average EPS estimate is $1.53.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 1,117 members out of 1,199 rating the stock outperform, and 82 members rating it underperform. Among 169 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 138 give Agnico-Eagle Mines a green thumbs-up, and 31 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Agnico-Eagle Mines is hold, with an average price target of $54.00.
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