Fool Checkup: Patriot Coal Earnings
Patriot Coal (NYS: PCX) reported earnings on May 8. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended March 31 (Q1), Patriot Coal missed estimates on revenues and exceeded expectations on earnings per share.
Compared to the prior-year quarter, revenue contracted and GAAP loss per share increased.
Gross margins grew, operating margins dropped, and net margins contracted.
Patriot Coal chalked up revenue of $502.6 million. The nine analysts polled by S&P Capital IQ predicted revenue of $552.5 million on the same basis. GAAP reported sales were 13% lower than the prior-year quarter's $577.0 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 -$0.25. The 13 earnings estimates compiled by S&P Capital IQ averaged -$0.40 per share. GAAP EPS were -$0.82 for Q1 against -$0.17 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 9.4%, 130 basis points better than the prior-year quarter. Operating margin was -5.7%, 710 basis points worse than the prior-year quarter. Net margin was -15.0%, 1,230 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $546.2 million. On the bottom line, the average EPS estimate is -$0.36.
Next year's average estimate for revenue is $2.21 billion. The average EPS estimate is -$1.51.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 840 members out of 877 rating the stock outperform, and 37 members rating it underperform. Among 176 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 170 give Patriot Coal a green thumbs-up, and six give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Patriot Coal is hold, with an average price target of $9.41.
Is Patriot Coal the right energy stock for you? Read about a handful of timely, profit-producing plays on expensive crude in "3 Stocks for $100 Oil." Click here for instant access to this free report.
- Add Patriot Coal to My Watchlist.
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.
Copyright © 1995 - 2012 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.