Progressive Waste Solutions Beats on Both Top and Bottom Lines
Progressive Waste Solutions (NYS: BIN) reported earnings on May 1. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended March 31 (Q1), Progressive Waste Solutions beat expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue grew. Non-GAAP earnings per share expanded significantly. GAAP earnings per share grew significantly.
Gross margins dropped, operating margins increased, net margins grew.
Progressive Waste Solutions logged revenue of $481.8 million. The 10 analysts polled by S&P Capital IQ expected a top line of $464.8 million on the same basis. GAAP reported sales were 11% higher than the prior-year quarter's $438.3 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 $0.24. The 12 earnings estimates compiled by S&P Capital IQ predicted $0.20 per share. Non-GAAP EPS of $0.24 for Q1 were 20% higher than the prior-year quarter's $0.20 per share. GAAP EPS of $0.25 for Q1 were 32% higher than the prior-year quarter's $0.19 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 39.0%, 50 basis points worse than the prior-year quarter. Operating margin was 12.0%, 50 basis points better than the prior-year quarter. Net margin was 6.0%, 100 basis points better than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $512.2 million. On the bottom line, the average EPS estimate is $0.27.
Next year's average estimate for revenue is $2.02 billion. The average EPS estimate is $1.01.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 80 members out of 82 rating the stock outperform, and two members rating it underperform. Among 26 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 26 give Progressive Waste Solutions a green thumbs-up, and give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Progressive Waste Solutions is outperform, with an average price target of $24.16.
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The article Progressive Waste Solutions Beats on Both Top and Bottom Lines 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.