Nordic American Tankers Increases Sales but Misses Estimates on Earnings
Nordic American Tankers (NYS: NAT) reported earnings on May 7. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended March 31 (Q1), Nordic American Tankers whiffed on revenues and missed expectations on earnings per share.
Compared to the prior-year quarter, revenue grew significantly and GAAP loss per share improved.
Margins dropped across the board.
Revenue details
Nordic American Tankers booked revenue of $30.5 million. The four analysts polled by S&P Capital IQ hoped for sales of $35.4 million on the same basis. GAAP reported sales were 19% higher than the prior-year quarter's $25.5 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS details
EPS came in at -$0.18. The five earnings estimates compiled by S&P Capital IQ predicted -$0.09 per share. GAAP EPS were -$0.18 for Q1 versus -$0.15 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
Margin details
For the quarter, gross margin was 47.2%, 380 basis points worse than the prior-year quarter. Operating margin was -28.5%, 280 basis points worse than the prior-year quarter. Net margin was -30.8%, 350 basis points worse than the prior-year quarter.
Looking ahead
Next quarter's average estimate for revenue is $26.8 million. On the bottom line, the average EPS estimate is -$0.23.
Next year's average estimate for revenue is $109.3 million. The average EPS estimate is -$0.87.
Investor sentiment
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 925 members out of 967 rating the stock outperform, and 42 members rating it underperform. Among 176 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 168 give Nordic American Tankers a green thumbs-up, and eight give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Nordic American Tankers is hold, with an average price target of $14.25.
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At the time thisarticle 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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