Knightsbridge Tankers Misses on Both Revenue and Earnings

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Knightsbridge Tankers (NAS: VLCCF) reported earnings on May 17. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended March 31 (Q1), Knightsbridge Tankers missed estimates on both revenue and earnings per share.

Compared to the prior-year quarter, revenue expanded and GAAP earnings per share dropped significantly.


Margins dropped across the board.

Revenue details
Knightsbridge Tankers Limited reported revenue of $23.2 million. The two analysts polled by S&P Capital IQ predicted a top line of $24 million on the same basis. GAAP-reported sales were 3.6% higher than the prior-year quarter's $22.4 million.

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Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
EPS came in at $0.29. The four earnings estimates compiled by S&P Capital IQ forecast $0.34 per share. GAAP EPS of $0.29 for Q1 were 17% lower than the prior-year quarter's $0.35 per share.

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Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Margin details
For the quarter, gross margin was 65.8%, 720 basis points worse than the prior-year quarter. Operating margin was 37.1%, 720 basis points worse than the prior-year quarter. Net margin was 30.7%, 770 basis points worse than the prior-year quarter.

Looking ahead
Next quarter's average estimate for revenue is $22.3 million. On the bottom line, the average EPS estimate is $0.31.

Next year's average estimate for revenue is $86.6 million. The average EPS estimate is $1.11.

Investor sentiment
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Knightsbridge Tankers Limited is hold, with an average price target of $17.83.

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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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