Libbey Beats on EPS But GAAP Results Lag
Libbey (AMEX: LBY) reported earnings on Feb. 21. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended Dec. 31 (Q4), Libbey met expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue grew slightly. Non-GAAP earnings per share increased significantly. GAAP earnings per share dropped significantly.
Gross margins grew, operating margins shrank, net margins shrank.
Libbey booked revenue of $219.7 million. The one analyst polled by S&P Capital IQ looked for a top line of $219.7 million on the same basis. GAAP reported sales were the same as the prior-year quarter's.
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 $0.34. The two earnings estimates compiled by S&P Capital IQ averaged $0.28 per share. Non-GAAP EPS of $0.34 for Q4 were 79% higher than the prior-year quarter's $0.19 per share. GAAP EPS of $0.07 for Q4 were 30% lower than the prior-year quarter's $0.10 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 20.3%, 150 basis points better than the prior-year quarter. Operating margin was 5.9%, 120 basis points worse than the prior-year quarter. Net margin was 0.7%, 30 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $194.2 million. On the bottom line, the average EPS estimate is $0.31.
Next year's average estimate for revenue is $850.5 million. The average EPS estimate is $2.03.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 47 members out of 65 rating the stock outperform, and 18 members rating it underperform. Among 16 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 10 give Libbey a green thumbs-up, and six give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Libbey is buy, with an average price target of $24.00.
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The article Libbey Beats on EPS But GAAP Results Lag originally appeared on Fool.com.
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. The Motley Fool has no position in any of the stocks mentioned. 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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