The 10-second takeaway
For the quarter ended June 30 (Q2), PetroLogistics met expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue dropped significantly. Non-GAAP earnings per share contracted significantly. GAAP earnings per share increased.
Gross margins dropped, operating margins grew, net margins increased.
PetroLogistics logged revenue of $159.4 million. The two analysts polled by S&P Capital IQ expected to see revenue of $159.9 million on the same basis. GAAP reported sales were 18% lower than the prior-year quarter's $193.8 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 $0.27. The four earnings estimates compiled by S&P Capital IQ averaged $0.25 per share. Non-GAAP EPS of $0.27 for Q2 were 41% lower than the prior-year quarter's $0.46 per share. GAAP EPS were $0.30 for Q2 compared to -$0.27 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 30.3%, 710 basis points worse than the prior-year quarter. Operating margin was 27.0%, much better than the prior-year quarter. Net margin was 26.0%, much better than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $193.2 million. On the bottom line, the average EPS estimate is $0.37.
Next year's average estimate for revenue is $729.7 million. The average EPS estimate is $1.40.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 25 members out of 28 rating the stock outperform, and three members rating it underperform. Among 10 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), nine give PetroLogistics a green thumbs-up, and one give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on PetroLogistics is outperform, with an average price target of $15.90.
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