Chiquita Brands International Goes Red
Chiquita Brands International (NYS: CQB) reported earnings on May 8. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended March 31 (Q1), Chiquita Brands International beat expectations on revenue and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue dropped and GAAP earnings per share shrank to a loss.
Margins dropped across the board.
Chiquita Brands International chalked up revenue of $793.0 million. The four analysts polled by S&P Capital IQ expected revenue of $768.1 million on the same basis. GAAP reported sales were 3.8% lower than the prior-year quarter's $824.5 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 $0.04. The four earnings estimates compiled by S&P Capital IQ predicted $0.31 per share. GAAP EPS were -$0.24 for Q1 versus $0.52 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 11.3%, 520 basis points worse than the prior-year quarter. Operating margin was 0.6%, 480 basis points worse than the prior-year quarter. Net margin was -1.4%, 430 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $852.5 million. On the bottom line, the average EPS estimate is $0.69.
Next year's average estimate for revenue is $3.07 billion. The average EPS estimate is $0.88.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 260 members out of 305 rating the stock outperform, and 45 members rating it underperform. Among 61 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 52 give Chiquita Brands International a green thumbs-up, and nine give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Chiquita Brands International is outperform, with an average price target of $16.33.
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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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