Barrick Gold Increases Sales but Misses Revenue Estimate
Barrick Gold (NYS: ABX) reported earnings on May 2. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended March 31 (Q1), Barrick Gold missed estimates on revenues and met expectations on earnings per share.
Compared to the prior-year quarter, revenue grew significantly and GAAP earnings per share.
Margins dropped across the board.
Barrick Gold recorded revenue of $3.64 billion. The seven analysts polled by S&P Capital IQ expected revenue of $3.76 billion on the same basis. GAAP reported sales were 18% higher than the prior-year quarter's $3.09 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 $1.09. The 15 earnings estimates compiled by S&P Capital IQ forecast $1.10 per share. GAAP EPS of $1.03 for Q1 were 3.0% higher than the prior-year quarter's $1.00 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 51.4%, 470 basis points worse than the prior-year quarter. Operating margin was 44.9%, 460 basis points worse than the prior-year quarter. Net margin was 28.2%, 420 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $3.88 billion. On the bottom line, the average EPS estimate is $1.17.
Next year's average estimate for revenue is $15.89 billion. The average EPS estimate is $5.01.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 1,995 members out of 2,117 rating the stock outperform, and 122 members rating it underperform. Among 398 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 365 give Barrick Gold a green thumbs-up, and 33 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Barrick Gold is outperform, with an average price target of $64.35.
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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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