Triangle Petroleum Increases Sales but Misses Estimates on Earnings

Triangle Petroleum (AMEX: TPLM  ) reported earnings on April 16. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended Jan. 31 (Q4), Triangle Petroleum whiffed on revenues and missed expectations on earnings per share.

Compared to the prior-year quarter, revenue improved significantly and GAAP loss per share grew.

Margins increased across the board.

Revenue details
Triangle Petroleum reported revenue of $3.5 million. The seven analysts polled by S&P Capital IQ expected to see revenue of $5.1 million on the same basis. GAAP reported sales were much higher than the prior-year quarter's $.4 million.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
EPS came in at -$4.28. The seven earnings estimates compiled by S&P Capital IQ anticipated -$0.03 per share. GAAP EPS were -$4.28 for Q4 versus -$0.86 per share for the prior-year quarter.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Margin details
For the quarter, gross margin was 71.1%, 290 basis points better than the prior-year quarter. Operating margin was -418.3%, 398,750 basis points better than the prior-year quarter. Net margin was -410.8%, 397,460 basis points better than the prior-year quarter.

Looking ahead
Next quarter's average estimate for revenue is $6.1 million. On the bottom line, the average EPS estimate is -$0.02.

Next year's average estimate for revenue is $47.9 million. The average EPS estimate is $0.33.

Investor sentiment
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 72 members out of 73 rating the stock outperform, and three members rating it underperform. Among 13 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 11 give Triangle Petroleum a green thumbs-up, and two give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Triangle Petroleum is outperform, with an average price target of $9.43.

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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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  • Report this Comment On April 17, 2012, at 1:37 PM, UlyssesBenDover wrote:

    Raging buy opportunity. Screaming in fact. Triangle is laying groundwork for huge expansion of production ala Oasis, Kodiak and others. Read their website and 10Q to learn more. This is a steal under $10 a share.

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