The 10-second takeaway
For the quarter ended March 31 (Q1), Diana Shipping beat expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue contracted significantly. Non-GAAP earnings per share dropped to zero. GAAP earnings per share dropped to a loss.
Margins dropped across the board.
Diana Shipping chalked up revenue of $43.0 million. The six analysts polled by S&P Capital IQ foresaw revenue of $41.2 million on the same basis. GAAP reported sales were 26% lower than the prior-year quarter's $58.2 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 $0.00. The 11 earnings estimates compiled by S&P Capital IQ averaged -$0.01 per share. Non-GAAP EPS dropped to zero from the prior-year quarter's $0.00. GAAP EPS were -$0.04 for Q1 compared to $0.25 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 53.2%, much worse than the prior-year quarter. Operating margin was 4.4%, much worse than the prior-year quarter. Net margin was -7.4%, much worse than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $39.8 million. On the bottom line, the average EPS estimate is -$0.04.
Next year's average estimate for revenue is $171.8 million. The average EPS estimate is -$0.13.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 2,404 members out of 2,472 rating the stock outperform, and 68 members rating it underperform. Among 350 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 338 give Diana Shipping 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 Diana Shipping is outperform, with an average price target of $9.59.
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