The 10-second takeaway
For the quarter ended Dec. 31 (Q4), Ultra Petroleum whiffed on revenues and missed expectations on earnings per share.
Compared to the prior-year quarter, revenue improved and GAAP earnings per share grew significantly.
Margins improved across the board.
Ultra Petroleum logged revenue of $270.8 million. The 11 analysts polled by S&P Capital IQ expected to see a top line of $338.0 million on the same basis. GAAP reported sales were 11% higher than the prior-year quarter's $311.6 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
Non-GAAP EPS came in at $0.58. The 20 earnings estimates compiled by S&P Capital IQ anticipated $0.62 per share on the same basis. GAAP EPS of $0.86 for Q4 were 258% higher than the prior-year quarter's $0.24 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 58.2%, 270 basis points better than the prior-year quarter. Operating margin was 64.6%, 4,130 basis points better than the prior-year quarter. Net margin was 38.3%, 2,610 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $274.2 million. On the bottom line, the average EPS estimate is $0.31.
Next year's average estimate for revenue is $1.13 billion. The average EPS estimate is $1.44.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 1,382 members out of 1,418 rating the stock outperform, and 36 members rating it underperform. Among 334 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 328 give Ultra Petroleum a green thumbs-up, and six give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Ultra Petroleum is hold, with an average price target of $47.81.
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