Hornbeck Offshore Services
The 10-second takeaway
For the quarter ended Sep. 30 (Q3), Hornbeck Offshore Services missed estimates on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue grew significantly and GAAP earnings per share grew.
Margins expanded across the board.
Hornbeck Offshore Services tallied revenue of $127.9 million. The nine analysts polled by S&P Capital IQ foresaw a top line of $131.3 million on the same basis. GAAP reported sales were 21% higher than the prior-year quarter's $105.8 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 $0.20. The 12 earnings estimates compiled by S&P Capital IQ forecast $0.32 per share. GAAP EPS were $0.20 for Q3 against -$0.03 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 47.5%, 680 basis points better than the prior-year quarter. Operating margin was 20.3%, 740 basis points better than the prior-year quarter. Net margin was 5.8%, 650 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $139.9 million. On the bottom line, the average EPS estimate is $0.46.
Next year's average estimate for revenue is $522.7 million. The average EPS estimate is $1.38.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 383 members out of 395 rating the stock outperform, and 12 members rating it underperform. Among 103 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 101 give Hornbeck Offshore Services 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 Hornbeck Offshore Services is outperform, with an average price target of $47.09.
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