Teekay Tankers Increases Sales but Misses Estimates on Earnings
May 21st 2012 2:46PM
Updated May 21st 2012 2:48PM
Teekay Tankers (NYS: TNK) reported earnings on May 17. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended March 31 (Q1), Teekay Tankers met expectations on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue was unchanged and GAAP earnings per share shrank significantly.
Margins dropped across the board.
Teekay Tankers booked revenue of $31.9 million. The five analysts polled by S&P Capital IQ predicted sales of $31.9 million on the same basis. GAAP reported sales were 0.1% higher than the prior-year quarter's $29.0 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 $0.04. The seven earnings estimates compiled by S&P Capital IQ predicted $0.05 per share. GAAP EPS of $0.06 for Q1 were 50% lower than the prior-year quarter's $0.12 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 55.2%, 960 basis points worse than the prior-year quarter. Operating margin was 11.0%, 910 basis points worse than the prior-year quarter. Net margin was 14.3%, 1,020 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $32.4 million. On the bottom line, the average EPS estimate is $0.03.
Next year's average estimate for revenue is $159.9 million. The average EPS estimate is $0.15.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 258 members out of 271 rating the stock outperform, and 13 members rating it underperform. Among 44 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 41 give Teekay Tankers a green thumbs-up, and three give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Teekay Tankers is outperform, with an average price target of $5.20.
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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 of Motley 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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