Charting Parkway Properties' Latest Earnings Release

Seth Jayson, The Motley Fool

Parkway Properties (NYS: PKY) reported earnings on Feb. 6. Here are the numbers you need to know.

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

Compared to the prior-year quarter, revenue improved and GAAP loss per share improved.

Gross margins improved, operating margins dropped, net margins dropped.

Revenue details
Parkway Properties logged revenue of $69.7 million. The seven analysts polled by S&P Capital IQ hoped for revenue of $68.0 million. Sales were 20% lower than the prior-year quarter's $62.2 million.


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

EPS details
Non-GAAP EPS came in at -$4.09. The three earnings estimates compiled by S&P Capital IQ averaged -$0.29 per share on the same basis. GAAP EPS were -$2.73 for Q3 against -$0.57 per share for the prior-year quarter.


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 54.2%, 180 basis points better than the prior-year quarter. Operating margin was 3.0%, 420 basis points worse than the prior-year quarter. Net margin was -114.3%, 9,800 basis points worse than the prior-year quarter.

Looking ahead
Next quarter's average estimate for revenue is $63.8 million. On the bottom line, the average EPS estimate is -$0.93.

Next year's average estimate for revenue is $268.1 million. The average EPS estimate is -$2.24.

Investor sentiment
The stock has a one-star rating (out of five) at Motley Fool CAPS, with 26 members out of 59 rating the stock outperform, and 33 members rating it underperform. Among 24 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 13 give Parkway Properties a green thumbs-up, and 11 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Parkway Properties is hold, with an average price target of $13.36.

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At the time thisarticle 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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