Progressive Waste Solutions
The 10-second takeaway
For the quarter ended March 31 (Q1), Progressive Waste Solutions beat expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue grew. Non-GAAP earnings per share expanded significantly. GAAP earnings per share grew significantly.
Gross margins dropped, operating margins increased, net margins grew.
Progressive Waste Solutions logged revenue of $481.8 million. The 10 analysts polled by S&P Capital IQ expected a top line of $464.8 million on the same basis. GAAP reported sales were 11% higher than the prior-year quarter's $438.3 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 $0.24. The 12 earnings estimates compiled by S&P Capital IQ predicted $0.20 per share. Non-GAAP EPS of $0.24 for Q1 were 20% higher than the prior-year quarter's $0.20 per share. GAAP EPS of $0.25 for Q1 were 32% higher than the prior-year quarter's $0.19 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 39.0%, 50 basis points worse than the prior-year quarter. Operating margin was 12.0%, 50 basis points better than the prior-year quarter. Net margin was 6.0%, 100 basis points better than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $512.2 million. On the bottom line, the average EPS estimate is $0.27.
Next year's average estimate for revenue is $2.02 billion. The average EPS estimate is $1.01.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 80 members out of 82 rating the stock outperform, and two members rating it underperform. Among 26 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 26 give Progressive Waste Solutions a green thumbs-up, and give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Progressive Waste Solutions is outperform, with an average price target of $24.16.
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