Navios Maritime Partners Beats Estimates Yet Again

Navios Maritime Partners (NYS: NMM) reported earnings on Jan. 26. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended Dec. 31 (Q4), Navios Maritime Partners beat expectations on revenues and beat expectations on earnings per share.

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

Gross margins were steady, operating margins shrank, and net margins dropped.

Revenue details
Navios Maritime Partners notched revenue of $50.5 million. The six analysts polled by S&P Capital IQ expected to see a top line of $48.3 million. Sales were 19% higher than the prior-year quarter's $42.5 million.


Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions.

EPS details
Non-GAAP EPS came in at $0.35. The six earnings estimates compiled by S&P Capital IQ predicted $0.34 per share on the same basis. GAAP EPS of $0.33 for Q4 were 10% lower than the prior-year quarter's $0.37 per share.


Source: S&P Capital IQ. Quarterly periods. Figures may be non-GAAP to maintain comparability with estimates.

Margin details
For the quarter, gross margin was 92.4%, about the same as the prior-year quarter. Operating margin was 42.4%, 410 basis points worse than the prior-year quarter. Net margin was 37%, 630 basis points worse than the prior-year quarter.

Looking ahead
Next quarter's average estimate for revenue is $48.4 million. On the bottom line, the average EPS estimate is $0.34.

Next year's average estimate for revenue is $193.1 million. The average EPS estimate is $1.34.

Investor sentiment
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 195 members out of 208 rating the stock outperform, and 13 members rating it underperform. Among 65 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 61 give Navios Maritime Partners 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 Navios Maritime Partners is outperform, with an average price target of $19.70.

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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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