The 10-second takeaway
For the quarter ended June 30 (Q2), Diana Shipping met expectations on revenues and met expectations on earnings per share.
Compared to the prior-year quarter, revenue dropped significantly. GAAP earnings per share shrank to a loss.
Margins shrank across the board.
Diana Shipping logged revenue of $40.0 million. The nine analysts polled by S&P Capital IQ hoped for revenue of $39.9 million on the same basis. GAAP reported sales were 31% lower than the prior-year quarter's $58.2 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 -$0.06. The 13 earnings estimates compiled by S&P Capital IQ anticipated -$0.06 per share. GAAP EPS were -$0.06 for Q2 versus $0.21 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 45.9%, much worse than the prior-year quarter. Operating margin was -7.6%, much worse than the prior-year quarter. Net margin was -13.1%, much worse than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $41.6 million. On the bottom line, the average EPS estimate is -$0.06.
Next year's average estimate for revenue is $165.9 million. The average EPS estimate is -$0.21.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 2,385 members out of 2,455 rating the stock outperform, and 70 members rating it underperform. Among 344 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 333 give Diana Shipping a green thumbs-up, and 11 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Diana Shipping is outperform, with an average price target of $10.43.
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