Progressive Waste Solutions Beats on Both Top and Bottom Lines
Progressive Waste Solutions (NYS: BIN) reported earnings on July 30. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended June 30 (Q2), Progressive Waste Solutions beat slightly on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue increased. Non-GAAP earnings per share grew significantly. GAAP earnings per share grew significantly.
Gross margins contracted, operating margins dropped, net margins expanded.
Progressive Waste Solutions booked revenue of $503.2 million. The 13 analysts polled by S&P Capital IQ predicted a top line of $494.2 million on the same basis. GAAP reported sales were 8.7% higher than the prior-year quarter's $475.4 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 $0.31. The 14 earnings estimates compiled by S&P Capital IQ forecast $0.26 per share. Non-GAAP EPS of $0.31 for Q2 were 24% higher than the prior-year quarter's $0.25 per share. GAAP EPS of $0.28 for Q2 were 17% higher than the prior-year quarter's $0.24 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 38.3%, 140 basis points worse than the prior-year quarter. Operating margin was 11.4%, 260 basis points worse than the prior-year quarter. Net margin was 6.2%, 20 basis points better than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $514.0 million. On the bottom line, the average EPS estimate is $0.27.
Next year's average estimate for revenue is $2.01 billion. The average EPS estimate is $1.01.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 83 members out of 85 rating the stock outperform, and two members rating it underperform. Among 30 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 30 give Progressive Waste Solutions a green thumbs-up, and give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Progressive Waste Solutions is outperform, with an average price target of $25.15.
Looking for alternatives to Progressive Waste Solutions? It takes more than great companies to build a fortune for the future. Learn the basic financial habits of millionaires next door and get focused stock ideas in our free report, "3 Stocks That Will Help You Retire Rich." Click here for instant access to this free report.
- Add Progressive Waste Solutions to My Watchlist.
The article Progressive Waste Solutions Beats on Both Top and Bottom Lines originally appeared on Fool.com.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 of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. The Motley Fool has no position in any of the stocks mentioned. 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.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.