Chiquita Brands International
The 10-second takeaway
For the quarter ended March 31 (Q1), Chiquita Brands International met expectations on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue contracted slightly. Non-GAAP earnings per share increased significantly. GAAP earnings per share increased.
Margins increased across the board.
Chiquita Brands International reported revenue of $774.0 million. The two analysts polled by S&P Capital IQ looked for a top line of $777.3 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 $0.09. The two earnings estimates compiled by S&P Capital IQ averaged $0.15 per share. Non-GAAP EPS of $0.09 for Q1 were 125% higher than the prior-year quarter's $0.04 per share. GAAP EPS were $0.04 for Q1 versus -$0.24 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 12.3%, 50 basis points better than the prior-year quarter. Operating margin was 3.2%, 200 basis points better than the prior-year quarter. Net margin was 0.3%, 170 basis points better than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $847.5 million. On the bottom line, the average EPS estimate is $0.46.
Next year's average estimate for revenue is $3.06 billion. The average EPS estimate is $0.72.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 272 members out of 316 rating the stock outperform, and 44 members rating it underperform. Among 73 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 61 give Chiquita Brands International a green thumbs-up, and 12 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Chiquita Brands International is outperform, with an average price target of $12.00.
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