Patriot Transportation Holding Beats on EPS but GAAP Results Lag

Patriot Transportation Holding (NAS: PATR) reported earnings on Feb. 1. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended Dec. 31 (Q1), Patriot Transportation Holding crushed expectations on revenues and beat expectations on earnings per share.

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

Margins dropped across the board.

Revenue details
Patriot Transportation Holding logged revenue of $30.4 million. The two analysts polled by S&P Capital IQ anticipated revenue of $24.7 million. Sales were 7.4% higher than the prior-year quarter's $28.3 million.


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

EPS details
EPS came in at $0.23. The one earnings estimate compiled by S&P Capital IQ predicted $0.17 per share. GAAP EPS of $0.23 for Q1 were 66% lower than the prior-year quarter's $0.68 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 11.5%, 190 basis points worse than the prior-year quarter. Operating margin was 10.6%, 70 basis points worse than the prior-year quarter. Net margin was 7.0%, 1,560 basis points worse than the prior-year quarter.

Looking ahead
Next quarter's average estimate for revenue is $24.3 million. On the bottom line, the average EPS estimate is $0.18.

Next year's average estimate for revenue is $102.7 million. The average EPS estimate is $0.85.

Investor sentiment
The stock has a one-star rating (out of five) at Motley Fool CAPS, with seven members out of 30 rating the stock outperform, and 23 members rating it underperform. Among 12 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), two give Patriot Transportation Holding a green thumbs-up, and 10 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Patriot Transportation Holding is hold, with an average price target of $30.

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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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