The 10-second takeaway
For the quarter ended March 31 (Q1), Atlantic Power beat expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue shrank significantly. Non-GAAP earnings per share increased. GAAP earnings per share grew.
Margins expanded across the board.
Atlantic Power booked revenue of $140.2 million. The two analysts polled by S&P Capital IQ hoped for sales of $121.7 million on the same basis. GAAP reported sales were 16% lower than the prior-year quarter's $167.6 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 $0.04. The six earnings estimates compiled by S&P Capital IQ predicted -$0.12 per share. Non-GAAP EPS were $0.04 for Q1 versus -$0.01 per share for the prior-year quarter. GAAP EPS were $0.05 for Q1 against -$0.37 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 44.4%, 20 basis points better than the prior-year quarter. Operating margin was 7.8%, much better than the prior-year quarter. Net margin was 4.6%, much better than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $116.0 million. On the bottom line, the average EPS estimate is -$0.18.
Next year's average estimate for revenue is $502.2 million. The average EPS estimate is -$0.59.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 98 members out of 106 rating the stock outperform, and eight members rating it underperform. Among 19 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 16 give Atlantic Power 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 Atlantic Power is hold, with an average price target of $5.25.
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