Ship Finance International
The 10-second takeaway
For the quarter ended March 31 (Q1), Ship Finance International missed estimates on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue dropped significantly. Non-GAAP earnings per share dropped significantly. GAAP earnings per share shrank significantly.
Margins contracted across the board.
Ship Finance International booked revenue of $65.1 million. The two analysts polled by S&P Capital IQ wanted to see revenue of $67.6 million on the same basis. GAAP reported sales were 7.7% lower than the prior-year quarter's $70.5 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 $0.19. The five earnings estimates compiled by S&P Capital IQ forecast $0.29 per share. Non-GAAP EPS of $0.19 for Q1 were 69% lower than the prior-year quarter's $0.61 per share. GAAP EPS of $0.38 for Q1 were 22% lower than the prior-year quarter's $0.49 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 60.2%, 710 basis points worse than the prior-year quarter. Operating margin was 35.6%, much worse than the prior-year quarter. Net margin was 49.7%, 550 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $67.6 million. On the bottom line, the average EPS estimate is $0.29.
Next year's average estimate for revenue is $338.0 million. The average EPS estimate is $1.11.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 503 members out of 529 rating the stock outperform, and 26 members rating it underperform. Among 93 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 85 give Ship Finance International a green thumbs-up, and eight give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Ship Finance International is outperform, with an average price target of $18.75.
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