The 10-second takeaway
For the quarter ended Sep. 30 (Q3), Halcón Resources beat slightly on revenues and missed expectations on earnings per share.
Compared to the prior-year quarter, revenue expanded significantly and GAAP earnings per share dropped to a loss.
Gross margins increased, operating margins dropped, net margins contracted.
Halcón Resources reported revenue of $73.1 million. The 11 analysts polled by S&P Capital IQ anticipated sales of $72.4 million on the same basis. GAAP reported sales were much higher than the prior-year quarter's $24.2 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 -$0.01. The 13 earnings estimates compiled by S&P Capital IQ predicted $0.00 per share. GAAP EPS were -$0.11 for Q3 compared to $0.45 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 71.2%, 800 basis points better than the prior-year quarter. Operating margin was -5.3%, 12,330 basis points worse than the prior-year quarter. Net margin was -27.6%, 7,630 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $115.6 million. On the bottom line, the average EPS estimate is $0.03.
Next year's average estimate for revenue is $239.2 million. The average EPS estimate is $0.02.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 274 members out of 287 rating the stock outperform, and 13 members rating it underperform. Among 55 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 50 give Halcón Resources a green thumbs-up, and five give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Halcón Resources is buy, with an average price target of $11.78.
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