Capital Product Partners
The 10-second takeaway
For the quarter ended June 30 (Q2), Capital Product Partners missed estimates on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue grew. Non-GAAP earnings per share increased. GAAP earnings per share increased.
Gross margins shrank, operating margins dropped, net margins grew.
Capital Product Partners tallied revenue of $41.8 million. The eight analysts polled by S&P Capital IQ hoped for a top line of $44.1 million on the same basis. GAAP reported sales were 10% higher than the prior-year quarter's $37.8 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures are normalized by S&P Capital IQ and may vary to maintain comparability with normalized estimates.
EPS came in at $0.15. The seven earnings estimates compiled by S&P Capital IQ forecast $0.09 per share. Non-GAAP EPS were $0.15 for Q2 against -$0.03 per share for the prior-year quarter. GAAP EPS were $0.41 for Q2 compared to -$0.01 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures are normalized by S&P Capital IQ and may vary to maintain comparability with normalized estimates.
For the quarter, gross margin was 65.0%, 390 basis points worse than the prior-year quarter. Operating margin was 26.2%, 500 basis points worse than the prior-year quarter. Net margin was 94.1%, much better than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $44.9 million. On the bottom line, the average EPS estimate is $0.09.
Next year's average estimate for revenue is $173.3 million. The average EPS estimate is $0.37.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 166 members out of 174 rating the stock outperform, and eight members rating it underperform. Among 48 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 45 give Capital Product Partners a green thumbs-up, and three give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Capital Product Partners is outperform, with an average price target of $8.46.
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