The 10-second takeaway
For the quarter ended Sep. 30 (Q3), Gulfport Energy missed estimates on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue increased and GAAP earnings per share dropped significantly.
Margins dropped across the board.
Gulfport Energy reported revenue of $60.5 million. The 10 analysts polled by S&P Capital IQ foresaw revenue of $63.5 million on the same basis. GAAP reported sales were 4.2% higher than the prior-year quarter's $58.1 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 $0.28. The 13 earnings estimates compiled by S&P Capital IQ predicted $0.38 per share. GAAP EPS of $0.01 for Q3 were 98% lower than the prior-year quarter's $0.57 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 77.4%, 190 basis points worse than the prior-year quarter. Operating margin was 30.0%, 2,010 basis points worse than the prior-year quarter. Net margin was 0.8%, 4,910 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $82.2 million. On the bottom line, the average EPS estimate is $0.42.
Next year's average estimate for revenue is $277.5 million. The average EPS estimate is $1.71.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Gulfport Energy is buy, with an average price target of $35.36.
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