Northern Oil and Gas (AMEX: NOG) reported earnings on Aug. 9. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended June 30 (Q2), Northern Oil and Gas crushed expectations on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue improved significantly and GAAP earnings per share expanded significantly.
Gross margins improved, operating margins shrank, and net margins dropped.
Northern Oil and Gas recorded revenue of $119.2 million. The six analysts polled by S&P Capital IQ hoped for a top line of $68.7 million on the same basis. GAAP reported sales were much higher than the prior-year quarter's $35.6 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 $0.22. The 11 earnings estimates compiled by S&P Capital IQ predicted $0.23 per share. GAAP EPS of $0.69 for Q2 were 109% higher than the prior-year quarter's $0.33 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 88.3%, 500 basis points better than the prior-year quarter. Operating margin was 63.1%, 3,170 basis points worse than the prior-year quarter. Net margin was 36.6%, 2,080 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $79.6 million. On the bottom line, the average EPS estimate is $0.28.
Next year's average estimate for revenue is $296.8 million. The average EPS estimate is $1.06.
The stock has a two-star rating (out of five) at Motley Fool CAPS, with 582 members out of 645 rating the stock outperform, and 63 members rating it underperform. Among 105 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 86 give Northern Oil and Gas a green thumbs-up, and 19 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Northern Oil and Gas is outperform, with an average price target of $27.73.
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