ATP Oil & Gas Whiffs on Revenues

ATP Oil & Gas (Nasdaq: ATPG  ) reported earnings on May 10. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended March 31 (Q1), ATP Oil & Gas whiffed on revenues and missed expectations on earnings per share.

Compared with he prior-year quarter, revenue contracted and GAAP loss per share grew.

Gross margins grew, operating margins improved, net margins dropped.

Revenue details
ATP Oil & Gas chalked up revenue of $146.6 million. The two analysts polled by S&P Capital IQ expected to see a top line of $178.4 million on the same basis. GAAP reported sales were 12% lower than the prior-year quarter's $166.5 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 -$1.98. The two earnings estimates compiled by S&P Capital IQ anticipated -$0.31 per share. GAAP EPS were -$2.83 for Q1 compared to -$2.34 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 81.6%, 110 basis points better than the prior-year quarter. Operating margin was 8.1%, 1,420 basis points better than the prior-year quarter. Net margin was -94.7%, 2,460 basis points worse than the prior-year quarter.

Looking ahead
Next quarter's average estimate for revenue is $210.7 million. On the bottom line, the average EPS estimate is -$0.30.

Next year's average estimate for revenue is $868.8 million. The average EPS estimate is -$0.86.

Investor sentiment
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 1,316 members out of 1,361 rating the stock outperform, and 45 members rating it underperform. Among 321 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 308 give ATP Oil & Gas a green thumbs-up, and 13 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on ATP Oil & Gas is hold, with an average price target of $9.83.

Over the decades, small-cap stocks like ATP Oil & Gas have provided market-beating returns, provided they're value-priced and have solid businesses. Read about a pair of companies with a lock on their markets in "Too Small to Fail: Two Small Caps the Government Won't Let Go Broke." Get instant access to this free report.

Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings. He is the 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 don't 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.

Read/Post Comments (0) | Recommend This Article (1)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Compare Brokers

Fool Disclosure

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 1884969, ~/Articles/ArticleHandler.aspx, 10/22/2016 5:25:47 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Today's Market

updated 8 hours ago Sponsored by:
DOW 18,145.71 -16.64 -0.09%
S&P 500 2,141.16 -0.18 -0.01%
NASD 5,257.40 15.57 0.30%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

12/31/1969 7:00 PM
ATPAQ.DL $0.00 Down +0.00 +0.00%
ATP Oil & Gas Corp CAPS Rating: ***