Newfield Exploration (NYSE: NFX ) reported earnings on Oct. 23. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended Sep. 30 (Q3), Newfield Exploration missed estimates on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue dropped slightly and GAAP earnings per share dropped to a loss.
Margins dropped across the board.
Newfield Exploration recorded revenue of $615.0 million. The 10 analysts polled by S&P Capital IQ predicted revenue of $647.5 million on the same basis. GAAP reported sales were 2.1% lower than the prior-year quarter's $628.0 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 $0.48. The 23 earnings estimates compiled by S&P Capital IQ predicted $0.51 per share. GAAP EPS were -$0.24 for Q3 against $1.99 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 66.3%, 30 basis points worse than the prior-year quarter. Operating margin was 17.2%, 5,370 basis points worse than the prior-year quarter. Net margin was -5.4%, 4,820 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $649.4 million. On the bottom line, the average EPS estimate is $0.49.
Next year's average estimate for revenue is $2.63 billion. The average EPS estimate is $2.48.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 317 members out of 339 rating the stock outperform, and 22 members rating it underperform. Among 90 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 88 give Newfield Exploration a green thumbs-up, and two give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Newfield Exploration is outperform, with an average price target of $42.26.
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