Warren Resources (Nasdaq: WRES ) reported earnings on Aug. 7. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended June 30 (Q2), Warren Resources beat expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue grew and GAAP earnings per share contracted significantly.
Gross margins increased, operating margins shrank, net margins shrank.
Warren Resources booked revenue of $30.2 million. The three analysts polled by S&P Capital IQ looked for a top line of $27.1 million on the same basis. GAAP reported sales were 12% higher than the prior-year quarter's $26.9 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 $0.07. The three earnings estimates compiled by S&P Capital IQ averaged $0.04 per share. GAAP EPS of $0.07 for Q2 were 46% lower than the prior-year quarter's $0.13 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 76.2%, 860 basis points better than the prior-year quarter. Operating margin was 18.4%, 1,800 basis points worse than the prior-year quarter. Net margin was 17.4%, 1,620 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $27.0 million. On the bottom line, the average EPS estimate is $0.02.
Next year's average estimate for revenue is $111.4 million. The average EPS estimate is $0.15.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 311 members out of 326 rating the stock outperform, and 15 members rating it underperform. Among 69 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 65 give Warren Resources a green thumbs-up, and four give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Warren Resources is outperform, with an average price target of $4.55.
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