Intrepid Potash Beats on Both Top and Bottom Lines

Just the facts, Fool.

Seth Jayson
Seth Jayson
May 2, 2013 at 12:00AM
Other

Intrepid Potash (NYSE: IPI) reported earnings on May 1. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended March 31 (Q1), Intrepid Potash beat expectations on revenues and beat expectations on earnings per share.

Compared to the prior-year quarter, revenue contracted. GAAP earnings per share dropped significantly.

Margins shrank across the board.

Revenue details
Intrepid Potash booked revenue of $99.3 million. The seven analysts polled by S&P Capital IQ hoped for a top line of $91.4 million on the same basis. GAAP reported sales were 14% lower than the prior-year quarter's $102.1 million.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
EPS came in at $0.20. The 14 earnings estimates compiled by S&P Capital IQ forecast $0.19 per share. GAAP EPS of $0.20 for Q1 were 26% lower than the prior-year quarter's $0.27 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Margin details
For the quarter, gross margin was 38.6%, 180 basis points worse than the prior-year quarter. Operating margin was 27.3%, 480 basis points worse than the prior-year quarter. Net margin was 17.0%, 320 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)

Looking ahead
Next quarter's average estimate for revenue is $105.8 million. On the bottom line, the average EPS estimate is $0.24.

Next year's average estimate for revenue is $436.8 million. The average EPS estimate is $0.96.

Investor sentiment

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Intrepid Potash is hold, with an average price target of $22.50.

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