The 10-second takeaway
For the quarter ended June 30 (Q2), Intrepid Potash missed estimates on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue shrank. Non-GAAP earnings per share shrank significantly. GAAP earnings per share dropped significantly.
Margins shrank across the board.
Intrepid Potash chalked up revenue of $92.7 million. The eight analysts polled by S&P Capital IQ predicted a top line of $101.9 million on the same basis. GAAP reported sales were 8.7% lower than the prior-year quarter's $91.0 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 $0.17. The 13 earnings estimates compiled by S&P Capital IQ averaged $0.21 per share. Non-GAAP EPS of $0.17 for Q2 were 32% lower than the prior-year quarter's $0.25 per share. GAAP EPS of $0.15 for Q2 were 40% lower than the prior-year quarter's $0.25 per share.
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 33.8%, much worse than the prior-year quarter. Operating margin was 24.5%, 950 basis points worse than the prior-year quarter. Net margin was 13.6%, 730 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $114.4 million. On the bottom line, the average EPS estimate is $0.21.
Next year's average estimate for revenue is $411.9 million. The average EPS estimate is $0.78.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Intrepid Potash is hold, with an average price target of $21.35.
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