Goodrich Petroleum (NYSE: GDP) is expected to report Q2 earnings on Aug. 6. Here's what Wall Street wants to see:

The 10-second takeaway
Comparing the upcoming quarter to the prior-year quarter, average analyst estimates predict Goodrich Petroleum's revenue will improve 24.4% and EPS will remain in the red.

The average estimate for revenue is $65.8 million. On the bottom line, the average EPS estimate is -$0.14.

Revenue details
Last quarter, Goodrich Petroleum reported revenue of $45.3 million. GAAP reported sales were 9.9% higher than the prior-year quarter's $41.2 million.

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

EPS details
Last quarter, non-GAAP EPS came in at -$0.28. GAAP EPS were -$0.53 for Q1 against -$0.68 per share for the prior-year quarter.

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

Recent performance
For the preceding quarter, gross margin was 68.7%, 1,280 basis points worse than the prior-year quarter. Operating margin was -10.6%, 2,010 basis points better than the prior-year quarter. Net margin was -39.1%, 1,710 basis points better than the prior-year quarter.

Looking ahead
The full year's average estimate for revenue is $281.7 million. The average EPS estimate is -$0.20.

Investor sentiment
The stock has a two-star rating (out of five) at Motley Fool CAPS, with 198 members out of 224 rating the stock outperform, and 26 members rating it underperform. Among 49 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 39 give Goodrich Petroleum a green thumbs-up, and 10 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Goodrich Petroleum is outperform, with an average price target of $21.81.