MBIA Beats on the Top Line
MBIA (NYS: MBI) reported earnings on May 10. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended March 31 (Q1), MBIA crushed expectations on revenue and missed expectations on earnings per share.
Compared to the prior-year quarter, revenue dropped significantly and GAAP earnings per share grew.
Margins dropped across the board.
MBIA notched revenue of $206.0 million. The one analyst polled by S&P Capital IQ predicted revenue of $144.0 million on the same basis. GAAP reported sales were 123% lower than the prior-year quarter's -$1.63 billion.
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 -$1.34. The one earnings estimate compiled by S&P Capital IQ predicted $0.14 per share. GAAP EPS were $0.05 for Q1 against -$6.38 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 71.3%, 2,750 basis points worse than the prior-year quarter. Operating margin was 28.5%, 7,550 basis points worse than the prior-year quarter. Net margin was 2.6%, 7,560 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $132.8 million. On the bottom line, the average EPS estimate is $0.19.
Next year's average estimate for revenue is $508.9 million. The average EPS estimate is $0.73.
The stock has a one-star rating (out of five) at Motley Fool CAPS, with 556 members out of 1,006 rating the stock outperform, and 450 members rating it underperform. Among 286 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 127 give MBIA a green thumbs-up, and 159 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on MBIA is outperform, with an average price target of $15.67.
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At the time this article was published Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor ofMotley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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