Legacy Reserves (Nasdaq: LGCY ) reported earnings on Aug. 1. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended June 30 (Q2), Legacy Reserves missed estimates on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue dropped and GAAP earnings per share increased.
Gross margins dropped, operating margins dropped, net margins expanded.
Legacy Reserves reported revenue of $79.2 million. The six analysts polled by S&P Capital IQ expected sales of $87.7 million on the same basis. GAAP reported sales were 15% lower than the prior-year quarter's $92.8 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.21. The six earnings estimates compiled by S&P Capital IQ averaged $0.47 per share. GAAP EPS of $1.73 for Q2 were 15% higher than the prior-year quarter's $1.51 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 60.7%, 1,070 basis points worse than the prior-year quarter. Operating margin was 22.2%, 5,610 basis points worse than the prior-year quarter. Net margin was 104.8%, 3,390 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $90.5 million. On the bottom line, the average EPS estimate is $0.50.
Next year's average estimate for revenue is $363.6 million. The average EPS estimate is $1.97.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 263 members out of 271 rating the stock outperform, and eight members rating it underperform. Among 81 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 80 give Legacy Reserves a green thumbs-up, and one give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Legacy Reserves is buy, with an average price target of $33.25.
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