The 10-second takeaway
For the quarter ended June 30 (Q2), PetroQuest Energy missed estimates on revenues and exceeded expectations on earnings per share.
Compared to the prior-year quarter, revenue contracted significantly and GAAP loss per share increased.
Gross margins expanded, operating margins dropped, and net margins dropped.
PetroQuest Energy chalked up revenue of $33.4 million. The three analysts polled by S&P Capital IQ expected a top line of $34.8 million on the same basis. GAAP reported sales were 20% lower than the prior-year quarter's $42.0 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 -$0.02. The seven earnings estimates compiled by S&P Capital IQ averaged -$0.03 per share. GAAP EPS were -$0.87 for Q2 against -$0.05 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 78.5%, 150 basis points better than the prior-year quarter. Operating margin was 11.9%, 1,890 basis points worse than the prior-year quarter. Net margin was -159.3%, 15,510 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $38.6 million. On the bottom line, the average EPS estimate is $0.00.
Next year's average estimate for revenue is $152.1 million. The average EPS estimate is $0.05.
The stock has a two-star rating (out of five) at Motley Fool CAPS, with 443 members rating the stock outperform and 27 members rating it underperform. Among 96 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 82 give PetroQuest Energy a green thumbs-up, and 14 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on PetroQuest Energy is outperform, with an average price target of $7.89.
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