New York Times
The 10-second takeaway
For the quarter ended March 31 (Q1), New York Times met expectations on revenues and met expectations on earnings per share.
Compared to the prior-year quarter, revenue dropped. Non-GAAP earnings per share dropped significantly. GAAP earnings per share dropped significantly.
Gross margins grew, operating margins contracted, net margins dropped.
New York Times chalked up revenue of $465.9 million. The four analysts polled by S&P Capital IQ wanted to see revenue of $470.3 million on the same basis. GAAP reported sales were 6.7% lower than the prior-year quarter's $499.4 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 $0.04. The six earnings estimates compiled by S&P Capital IQ averaged $0.04 per share. Non-GAAP EPS of $0.04 for Q1 were 50% lower than the prior-year quarter's $0.08 per share. (The prior-year quarter included $0.19 per share in earnings from discontinued operations.) GAAP EPS of $0.02 for Q1 were 93% lower than the prior-year quarter's $0.28 per share. (The prior-year quarter included $0.19 per share in earnings from discontinued operations.)
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 57.7%, 40 basis points better than the prior-year quarter. Operating margin was 4.9%, 140 basis points worse than the prior-year quarter. Net margin was 0.7%, 770 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $486.9 million. On the bottom line, the average EPS estimate is $0.13.
Next year's average estimate for revenue is $1.97 billion. The average EPS estimate is $0.43.
The stock has a one-star rating (out of five) at Motley Fool CAPS, with 172 members out of 438 rating the stock outperform, and 266 members rating it underperform. Among 142 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 53 give New York Times a green thumbs-up, and 89 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on New York Times is hold, with an average price target of $8.64.
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