Capital Product Partners
The 10-second takeaway
For the quarter ended March 31 (Q1), Capital Product Partners beat expectations on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue was unchanged. Non-GAAP earnings per share contracted significantly. GAAP earnings per share expanded significantly.
Margins grew across the board.
Capital Product Partners reported revenue of $40.0 million. The seven analysts polled by S&P Capital IQ predicted a top line of $39.1 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 came in at $0.03. The seven earnings estimates compiled by S&P Capital IQ averaged $0.07 per share. Non-GAAP EPS of $0.03 for Q1 were 40% lower than the prior-year quarter's $0.05 per share. GAAP EPS of $0.28 for Q1 were 460% higher than the prior-year quarter's $0.05 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 63.8%, 160 basis points better than the prior-year quarter. Operating margin was 27.6%, 170 basis points better than the prior-year quarter. Net margin was 62.6%, much better than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $43.7 million. On the bottom line, the average EPS estimate is $0.09.
Next year's average estimate for revenue is $171.5 million. The average EPS estimate is $0.31.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 169 members out of 178 rating the stock outperform, and nine members rating it underperform. Among 49 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 46 give Capital Product Partners a green thumbs-up, and three give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Capital Product Partners is outperform, with an average price target of $7.88.
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