The 10-second takeaway
For the quarter ended March 31 (Q1), Agrium missed estimates on revenues and whiffed on earnings per share.
Compared to the prior-year quarter, revenue contracted. GAAP earnings per share shrank.
Margins expanded across the board.
Agrium logged revenue of $3.22 billion. The 16 analysts polled by S&P Capital IQ anticipated a top line of $3.49 billion on the same basis. GAAP reported sales were 11% lower than the prior-year quarter's $3.63 billion.
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 $0.94. The 22 earnings estimates compiled by S&P Capital IQ anticipated $1.09 per share. GAAP EPS of $0.94 for Q1 were 3.1% lower than the prior-year quarter's $0.97 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 22.2%, 20 basis points better than the prior-year quarter. Operating margin was 6.8%, 60 basis points better than the prior-year quarter. Net margin was 4.4%, 20 basis points better than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $7.20 billion. On the bottom line, the average EPS estimate is $5.11.
Next year's average estimate for revenue is $17.28 billion. The average EPS estimate is $9.39.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 1,731 members out of 1,774 rating the stock outperform, and 43 members rating it underperform. Among 292 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 283 give Agrium a green thumbs-up, and nine give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Agrium is outperform, with an average price target of $115.63.
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