The 10-second takeaway
For the quarter ended March 31 (Q1), Total missed estimates on revenues and whiffed on earnings per share.
Compared to the prior-year quarter, revenue contracted. Non-GAAP earnings per share contracted. GAAP earnings per share shrank significantly.
Margins contracted across the board.
Total logged revenue of $56.29 billion. The three analysts polled by S&P Capital IQ looked for revenue of $59.06 billion on the same basis. GAAP reported sales were 9.7% lower than the prior-year quarter's $62.35 billion.
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 $1.64. The two earnings estimates compiled by S&P Capital IQ forecast $1.84 per share. Non-GAAP EPS of $1.64 for Q1 were 7.9% lower than the prior-year quarter's $1.78 per share. GAAP EPS of $0.87 for Q1 were 60% lower than the prior-year quarter's $2.16 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 30.5%, 100 basis points worse than the prior-year quarter. Operating margin was 12.7%, 300 basis points worse than the prior-year quarter. Net margin was 3.5%, 430 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $62.34 billion. On the bottom line, the average EPS estimate is $1.49.
Next year's average estimate for revenue is $242.72 billion. The average EPS estimate is $6.55.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 1,395 members out of 1,421 rating the stock outperform, and 26 members rating it underperform. Among 355 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 350 give Total 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 Total is outperform, with an average price target of $58.65.
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Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. The Motley Fool recommends Total SA. (ADR). Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.