PNM Resources Beats Estimates But Has a Big Earnings Drop
Mar 4th 2013 1:01PM
Updated Mar 4th 2013 1:02PM
PNM Resources (NYS: PNM) reported earnings on March 1. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended Dec. 31 (Q4), PNM Resources missed estimates on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue shrank. Non-GAAP earnings per share shrank significantly. GAAP earnings per share dropped significantly.
Margins shrank across the board.
PNM Resources tallied revenue of $322.8 million. The two analysts polled by S&P Capital IQ expected revenue of $333.5 million on the same basis. GAAP reported sales were 7.2% lower than the prior-year quarter's $347.9 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 $0.13. The seven earnings estimates compiled by S&P Capital IQ predicted $0.12 per share. Non-GAAP EPS of $0.13 for Q4 were 41% lower than the prior-year quarter's $0.22 per share. GAAP EPS of $0.11 for Q4 were 92% lower than the prior-year quarter's $1.34 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 45.3%, 520 basis points worse than the prior-year quarter. Operating margin was 10.6%, 780 basis points worse than the prior-year quarter. Net margin was 2.7%, much worse than the prior-year quarter.
Next quarter's average estimate for revenue is $326.0 million. On the bottom line, the average EPS estimate is $0.20.
Next year's average estimate for revenue is $1.38 billion. The average EPS estimate is $1.38.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 108 members out of 122 rating the stock outperform, and 14 members rating it underperform. Among 39 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 36 give PNM Resources 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 PNM Resources is hold, with an average price target of $21.83.
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The article PNM Resources Beats Estimates But Has a Big Earnings Drop 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 of Motley 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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