DryShips (NAS: DRYS) reported earnings on Aug. 16. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended June 30 (Q2), DryShips missed slightly on revenues and missed expectations on earnings per share.
Compared to the prior-year quarter, revenue improved significantly and GAAP loss per share contracted.
Gross margins dropped, operating margins shrank, net margins grew.
DryShips chalked up revenue of $336.1 million. The six analysts polled by S&P Capital IQ predicted a top line of $341.5 million on the same basis. GAAP reported sales were 50% higher than the prior-year quarter's $224.0 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 -$0.05. The eight earnings estimates compiled by S&P Capital IQ predicted $0.05 per share. GAAP EPS were -$0.05 for Q2 versus -$0.33 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 48.6%, 1,100 basis points worse than the prior-year quarter. Operating margin was 13.8%, 480 basis points worse than the prior-year quarter. Net margin was -5.4%, 4,550 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $341.2 million. On the bottom line, the average EPS estimate is $0.02.
Next year's average estimate for revenue is $1.25 billion. The average EPS estimate is -$0.03.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 2,941 members out of 3,308 rating the stock outperform, and 367 members rating it underperform. Among 543 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 425 give DryShips a green thumbs-up, and 118 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on DryShips is hold, with an average price target of $3.93.
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The article The Gory Details on DryShips's Double Miss originally appeared on Fool.com.
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