Chiquita Brands International Inc. First Quarter Earnings Sneak Peek

Chiquita Brands International Inc. (NYSE:CQB) will unveil its latest earnings on Tuesday, May 8, 2012. Chiquita Brands International and its subsidiaries operate as an international marketer and distributor of bananas and other fresh produce sold under the Chiquita and other brand.

Chiquita Brands International Inc. Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average analyst estimate is for net income of 32 cents per share, a decline of 43.9% from the company’s actual earnings for the year-ago quarter. During the past three months, the average estimate has moved up from 31 cents. Between one and three months ago, the average estimate moved up. It has dropped from 34 cents during the last month. Analysts are projecting profit to rise by 8.4% compared to last year’s 90 cents.

Past Earnings Performance: The company beat estimates last quarter after falling short in the prior two. In the fourth quarter of the last fiscal year, the company reported net loss of 12 cents per share versus a mean estimate of a loss of 17 cents per share. In the third quarter of the last fiscal year, the company missed estimates by 3 cents.

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Wall St. Revenue Expectations: On average, analysts predict $768 million in revenue this quarter, a decline of 6.8% from the year-ago quarter. Analysts are forecasting total revenue of $3.09 billion for the year, a decline of 1.6% from last year’s revenue of $3.14 billion.

Analyst Ratings: Analysts are high on the stock, with three analysts rating it as a buy, none rating it as a sell and one rating it as a hold.

A Look Back: In the fourth quarter of the last fiscal year, the company’s loss narrowed to a loss of $16.3 million (35 cents a share) from a loss of $19.7 million (43 cents) a year earlier, beating analyst expectations. Revenue fell 6.6% to $721.7 million from $773.1 million.

Key Stats:

On the top line, the company is hoping to use this earnings announcement to snap a string of three-straight quarters of revenue declines. Revenue fell 5% in the second quarter of the last fiscal year and 1% in third quarter of the last fiscal year before falling again in the fourth quarter of the last fiscal year of the last fiscal year.

Stock Price Performance: Between February 6, 2012 and May 2, 2012, the stock price fell $1.26 (-13%), from $9.67 to $8.41. The stock price saw one of its best stretches over the last year between June 23, 2011 and July 1, 2011, when shares rose for seven straight days, increasing 11.3% (+$1.36) over that span. It saw one of its worst periods between February 23, 2012 and March 2, 2012 when shares fell for seven straight days, dropping 9.4% (-97 cents) over that span.

(Company fundamentals by Xignite Financials. Earnings estimates provided by Zacks)

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