The 10-second takeaway
For the quarter ended June 30 (Q2), Quicksilver Resources missed estimates on revenues and missed expectations on earnings per share.
Compared to the prior-year quarter, revenue shrank significantly and GAAP earnings per share contracted to a loss.
Margins dropped across the board.
Quicksilver Resources booked revenue of $168.6 million. The seven analysts polled by S&P Capital IQ predicted revenue of $182.5 million on the same basis. GAAP reported sales were 26% lower than the prior-year quarter's $228.5 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 -$0.13. The 16 earnings estimates compiled by S&P Capital IQ averaged -$0.06 per share. GAAP EPS were -$3.96 for Q2 compared to $0.60 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 52.1%, 690 basis points worse than the prior-year quarter. Operating margin was 10.3%, 2,410 basis points worse than the prior-year quarter. Net margin was -399.0%, 44,650 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $187.7 million. On the bottom line, the average EPS estimate is -$0.06.
Next year's average estimate for revenue is $730.4 million. The average EPS estimate is -$0.25.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 838 members out of 865 rating the stock outperform, and 27 members rating it underperform. Among 196 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 188 give Quicksilver Resources a green thumbs-up, and eight give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Quicksilver Resources is hold, with an average price target of $5.92.
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