Vantage Drilling (AMEX: VTG) reported earnings on Nov. 9. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended Sep. 30 (Q3), Vantage Drilling met expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue dropped and GAAP earnings per share grew to zero. The non-GAAP profit was a surprise, as analysts had predicted a loss.
Margins grew across the board.
Vantage Drilling reported revenue of $111.5 million. The four analysts polled by S&P Capital IQ expected to see revenue of $110.5 million on the same basis. GAAP reported sales were 20% higher than the prior-year quarter's $93.2 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 eight earnings estimates compiled by S&P Capital IQ predicted -$0.03 per share. GAAP EPS shrank to zero from the prior-year quarter's -$0.04.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 53.4%, 2,810 basis points better than the prior-year quarter. Operating margin was 32.6%, 390 basis points better than the prior-year quarter. Net margin was -0.5%, 1,230 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $145.3 million. On the bottom line, the average EPS estimate is -$0.01.
Next year's average estimate for revenue is $492.8 million. The average EPS estimate is -$0.07.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 182 members out of 193 rating the stock outperform, and 11 members rating it underperform. Among 44 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 38 give Vantage Drilling a green thumbs-up, and six give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Vantage Drilling is outperform, with an average price target of $2.22.
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