Ship Finance International Limited Crushes Earnings Estimates
Ship Finance International Limited (NYS: SFL) reported earnings on May 24. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended March 31 (Q1), Ship Finance International Limited met expectations on revenues and crushed expectations on earnings per share.
Compared to the prior-year quarter, revenue improved significantly and GAAP earnings per share expanded significantly.
Margins improved across the board.
Ship Finance International Limited reported revenue of $84.1 million. The one analyst polled by S&P Capital IQ looked for a top line of $85.0 million on the same basis. GAAP reported sales were 21% higher than the prior-year quarter's $69.8 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 $0.61. The three earnings estimates compiled by S&P Capital IQ predicted $0.35 per share. GAAP EPS of $0.49 for Q1 were 20% higher than the prior-year quarter's $0.41 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 72.6%, 190 basis points better than the prior-year quarter. Operating margin was 53.0%, 210 basis points better than the prior-year quarter. Net margin was 46.3%, 30 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $137.0 million. On the bottom line, the average EPS estimate is $0.38.
Next year's average estimate for revenue is $420.7 million. The average EPS estimate is $1.67.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 1,103 members out of 1,130 rating the stock outperform, and 28 members rating it underperform. Among 232 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 222 give Ship Finance International Limited a green thumbs-up, and 10 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Ship Finance International Limited is outperform, with an average price target of $15.86.
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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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