Pioneer Energy Services
The 10-second takeaway
For the quarter ended Dec. 31 (Q4), Pioneer Energy Services beat expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue expanded and GAAP earnings per share dropped significantly. The profit was a surprise, as analysts had predicted a loss.
Margins dropped across the board.
Pioneer Energy Services reported revenue of $227.9 million. The six analysts polled by S&P Capital IQ anticipated a top line of $222.6 million on the same basis. GAAP reported sales were 12% higher than the prior-year quarter's $203.7 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 $0.06. The nine earnings estimates compiled by S&P Capital IQ averaged -$0.04 per share. GAAP EPS of $0.06 for Q4 were 40% lower than the prior-year quarter's $0.10 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 35.5%, 140 basis points worse than the prior-year quarter. Operating margin was 6.9%, 310 basis points worse than the prior-year quarter. Net margin was 1.6%, 170 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $224.2 million. On the bottom line, the average EPS estimate is -$0.05.
Next year's average estimate for revenue is $935.8 million. The average EPS estimate is -$0.01.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 584 members out of 609 rating the stock outperform, and 25 members rating it underperform. Among 116 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 109 give Pioneer Energy Services a green thumbs-up, and seven give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Pioneer Energy Services is outperform, with an average price target of $9.14.
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