Capital Product Partners Increases Sales but Misses Revenue Estimate
Capital Product Partners (NAS: CPLP) reported earnings on May 2. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended March 31 (Q1), Capital Product Partners missed estimates on revenues and met expectations on earnings per share.
Compared to the prior-year quarter, revenue improved significantly and GAAP earnings per share shrank.
Margins shrank across the board.
Capital Product Partners tallied revenue of $39.8 million. The six analysts polled by S&P Capital IQ anticipated revenue of $41.9 million on the same basis. GAAP reported sales were 44% higher than the prior-year quarter's $27.7 million.
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 $0.05. The five earnings estimates compiled by S&P Capital IQ forecast $0.05 per share. GAAP EPS of $0.05 for Q1 were 17% lower than the prior-year quarter's $0.06 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 62.2%, 970 basis points worse than the prior-year quarter. Operating margin was 25.9%, 1,190 basis points worse than the prior-year quarter. Net margin was 8.1%, 60 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $40.3 million. On the bottom line, the average EPS estimate is $0.04.
Next year's average estimate for revenue is $164.2 million. The average EPS estimate is $0.21.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 158 members out of 163 rating the stock outperform, and five members rating it underperform. Among 46 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 44 give Capital Product Partners a green thumbs-up, and two give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Capital Product Partners is outperform, with an average price target of $8.90.
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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.