Libbey (AMEX: LBY) reported earnings on July 30. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended June 30 (Q2), Libbey missed estimates on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue was unchanged. Non-GAAP earnings per share contracted. GAAP earnings per share grew.
Gross margins grew, operating margins dropped, net margins expanded.
Libbey logged revenue of $210.7 million. The two analysts polled by S&P Capital IQ wanted to see a top line of $219.4 million on the same basis. GAAP reported sales were the same as the prior-year quarter's.
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 $0.84. The two earnings estimates compiled by S&P Capital IQ predicted $0.76 per share. Non-GAAP EPS of $0.84 for Q2 were 14% lower than the prior-year quarter's $0.98 per share. GAAP EPS were $0.57 for Q2 against -$0.49 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 27.3%, 50 basis points better than the prior-year quarter. Operating margin was 13.2%, 60 basis points worse than the prior-year quarter. Net margin was 5.9%, much better than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $218.4 million. On the bottom line, the average EPS estimate is $0.74.
Next year's average estimate for revenue is $851.1 million. The average EPS estimate is $2.23.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 51 members out of 70 rating the stock outperform, and 19 members rating it underperform. Among 17 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 13 give Libbey a green thumbs-up, and four give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Libbey is buy, with an average price target of $30.00.
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