Costamare Beats on Both Top and Bottom Lines
Costamare (NYS: CMRE) reported earnings on May 8. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended March 31 (Q1), Costamare beat expectations on revenue and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue increased significantly and GAAP earnings per share improved significantly.
Margins improved across the board.
Costamare tallied revenue of $100.0 million. The two analysts polled by S&P Capital IQ expected revenue of $97.7 million on the same basis. GAAP reported sales were 16% higher than the prior-year quarter's $86.0 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 $0.41. The five earnings estimates compiled by S&P Capital IQ predicted $0.36 per share. GAAP EPS of $0.40 for Q1 were 33% higher than the prior-year quarter's $0.30 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 68.9%, 510 basis points better than the prior-year quarter. Operating margin was 44.3%, 740 basis points better than the prior-year quarter. Net margin was 24.5%, 360 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $96.1 million. On the bottom line, the average EPS estimate is $0.28.
Next year's average estimate for revenue is $396.8 million. The average EPS estimate is $1.26.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Costamare is outperform, with an average price target of $18.67.
Can your portfolio provide you with enough income to last through retirement? You'll need more than Costamare. Learn how to maximize your investment income with our free report: "Secure Your Future With 9 Rock-Solid Dividend Stocks." Click here for instant access to this free report.
- Add Costamare 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.