Newmont Mining Hits Estimates, but GAAP Results Lag Last Year's
Newmont Mining (NYS: NEM) reported earnings on April 26. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended March 31 (Q1), Newmont Mining met expectations on revenues and earnings per share.
Compared to the prior-year quarter, revenue grew and GAAP earnings per share shrank.
Gross margins grew, operating margins dropped, and net margins dropped.
Newmont Mining logged revenue of $2.68 billion. The six analysts polled by S&P Capital IQ predicted a top line of $2.69 billion on the same basis. GAAP reported sales were 8.8% higher than the prior-year quarter's $2.47 billion.
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 $1.15. The 14 earnings estimates compiled by S&P Capital IQ averaged $1.14 per share. GAAP EPS of $0.97 for Q1 were 5.8% lower than the prior-year quarter's $1.03 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 62.1%, 80 basis points better than the prior-year quarter. Operating margin was 39.3%, 160 basis points worse than the prior-year quarter. Net margin was 18.3%, 260 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $2.63 billion. On the bottom line, the average EPS estimate is $1.12.
Next year's average estimate for revenue is $11.21 billion. The average EPS estimate is $4.84.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 1,137 members out of 1,224 rating the stock outperform, and 87 members rating it underperform. Among 269 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 247 give Newmont Mining a green thumbs-up, and 22 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Newmont Mining is outperform, with an average price target of $74.38.
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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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