Corn Products International Increases Sales but Misses Revenue Estimate
Corn Products International (NYS: CPO) reported earnings on Feb. 9. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended Dec. 31 (Q4), Corn Products International missed estimates on revenues and met expectations on earnings per share.
Compared to the prior-year quarter, revenue improved and GAAP earnings per share increased significantly.
Gross margins contracted, operating margins increased, net margins improved.
Corn Products International logged revenue of $1.55 billion. The seven analysts polled by S&P Capital IQ foresaw revenue of $1.62 billion on the same basis. GAAP reported sales were 10.0% higher than the prior-year quarter's $1.41 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
Non-GAAP EPS came in at $1.11. The 10 earnings estimates compiled by S&P Capital IQ forecast $1.11 per share on the same basis. GAAP EPS of $1.22 for Q4 were 82% higher than the prior-year quarter's $0.67 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 18.1%, 130 basis points worse than the prior-year quarter. Operating margin was 11.0%, 60 basis points better than the prior-year quarter. Net margin was 6.1%, 240 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $1.57 billion. On the bottom line, the average EPS estimate is $1.21.
Next year's average estimate for revenue is $6.80 billion. The average EPS estimate is $5.15.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 324 members out of 346 rating the stock outperform, and 22 members rating it underperform. Among 106 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 96 give Corn Products International 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 Corn Products International is outperform, with an average price target of $63.63.
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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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