The 10-second takeaway
For the quarter ended June 30 (Q2), Goldcorp whiffed on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue shrank significantly. Non-GAAP earnings per share dropped significantly. GAAP earnings per share dropped to a loss.
Margins dropped across the board.
Goldcorp booked revenue of $889.0 million. The six analysts polled by S&P Capital IQ hoped for a top line of $1.15 billion on the same basis. GAAP reported sales were 20% lower than the prior-year quarter's $1.11 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 $0.14. The 15 earnings estimates compiled by S&P Capital IQ predicted $0.23 per share. Non-GAAP EPS of $0.14 for Q2 were 66% lower than the prior-year quarter's $0.41 per share. GAAP EPS were -$2.38 for Q2 versus $0.26 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 38.7%, much worse than the prior-year quarter. Operating margin was 11.7%, much worse than the prior-year quarter. Net margin was -217.5%, much worse than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $1.13 billion. On the bottom line, the average EPS estimate is $0.19.
Next year's average estimate for revenue is $4.38 billion. The average EPS estimate is $1.06.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 2,210 members out of 2,356 rating the stock outperform, and 146 members rating it underperform. Among 287 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 244 give Goldcorp a green thumbs-up, and 43 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Goldcorp is outperform, with an average price target of $33.57.
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Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.