Core Laboratories Increases Sales but Misses Revenue Estimate

Seth Jayson, The Motley Fool
Updated

Core Laboratories (NYS: CLB) reported earnings on July 17. Here are the numbers you need to know.

The 10-second takeaway
 For the quarter ended June 30 (Q2), Core Laboratories missed slightly on revenues and met expectations on earnings per share.

Compared to the prior-year quarter, revenue grew. Non-GAAP earnings per share increased. GAAP earnings per share grew significantly.


Margins increased across the board.

Revenue details
 Core Laboratories reported revenue of $263.1 million. The 11 analysts polled by S&P Capital IQ wanted to see net sales of $267.3 million on the same basis. GAAP reported sales were 6.5% higher than the prior-year quarter's $247.0 million.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
 EPS came in at $1.32. The 14 earnings estimates compiled by S&P Capital IQ predicted $1.32 per share. Non-GAAP EPS of $1.32 for Q2 were 14% higher than the prior-year quarter's $1.16 per share. GAAP EPS of $1.29 for Q2 were 16% higher than the prior-year quarter's $1.11 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Margin details
 For the quarter, gross margin was 37.9%, 120 basis points better than the prior-year quarter. Operating margin was 31.1%, 70 basis points better than the prior-year quarter. Net margin was 22.7%, 130 basis points better than the prior-year quarter. (Margins calculated in GAAP terms.)

Looking ahead
 Next quarter's average estimate for revenue is $270.6 million. On the bottom line, the average EPS estimate is $1.34.

Next year's average estimate for revenue is $1.08 billion. The average EPS estimate is $5.26.

Investor sentiment
 The stock has a five-star rating (out of five) at Motley Fool CAPS, with 658 members out of 671 rating the stock outperform, and 13 members rating it underperform. Among 148 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 148 give Core Laboratories 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 Core Laboratories is hold, with an average price target of $138.80.

Is Core Laboratories the right energy stock for you? Read about a handful of timely, profit-producing plays on expensive crude in "3 Stocks for $100 Oil." Click here for instant access to this free report.

The article Core Laboratories Increases Sales but Misses Revenue Estimate 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.

Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

Advertisement