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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