Costamare Misses on Revenues but Beats on EPS
Costamare (NYS: CMRE) reported earnings on July 24. Here are the numbers you need to know.
For the quarter ended June 30 (Q2), Costamare missed estimates on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue grew. Non-GAAP earnings per share increased significantly. GAAP earnings per share expanded significantly.
Margins grew across the board.
Costamare reported revenue of $100.0 million. The five analysts polled by S&P Capital IQ looked for net sales of $102.2 million on the same basis. GAAP reported sales were the same as the prior-year quarter's.
EPS came in at $0.37. The seven earnings estimates compiled by S&P Capital IQ predicted $0.31 per share. Non-GAAP EPS of $0.37 for Q2 were 16% higher than the prior-year quarter's $0.32 per share. GAAP EPS of $0.41 for Q2 were 32% higher than the prior-year quarter's $0.31 per share.
Margin details
For the quarter, gross margin was 67.6%, 190 basis points better than the prior-year quarter. Operating margin was 40.6%, 80 basis points better than the prior-year quarter. Net margin was 30.5%, 850 basis points better than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $112.7 million. On the bottom line, the average EPS estimate is $0.39.
Next year's average estimate for revenue is $433.5 million. The average EPS estimate is $1.46.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 13 members out of 15 rating the stock outperform, and two members rating it underperform. Among five CAPS All-Star picks (recommendations by the highest-ranked CAPS members), four give Costamare a green thumbs-up, and one give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Costamare is outperform, with an average price target of $18.75.
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The article Costamare Misses on Revenues but Beats on EPS originally appeared on Fool.com.
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