Plains Exploration & Production
The 10-second takeaway
For the quarter ended Dec. 31 (Q4), Plains Exploration & Production beat expectations on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue increased significantly. Non-GAAP earnings per share grew significantly. GAAP earnings per share grew significantly.
Margins grew across the board.
Plains Exploration & Production recorded revenue of $869.2 million. The six analysts polled by S&P Capital IQ wanted to see revenue of $782.4 million on the same basis. GAAP reported sales were 68% higher than the prior-year quarter's $517.5 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 $0.42. The 13 earnings estimates compiled by S&P Capital IQ forecast $0.51 per share. Non-GAAP EPS of $0.42 for Q4 were 110% higher than the prior-year quarter's $0.20 per share. GAAP EPS of $1.65 for Q4 were 139% higher than the prior-year quarter's $0.69 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 78.0%, 910 basis points better than the prior-year quarter. Operating margin was 24.4%, 690 basis points better than the prior-year quarter. Net margin was 25.2%, 630 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $1.12 billion. On the bottom line, the average EPS estimate is $0.80.
Next year's average estimate for revenue is $4.36 billion. The average EPS estimate is $2.38.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 383 members out of 398 rating the stock outperform, and 15 members rating it underperform. Among 87 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 84 give Plains Exploration & Production a green thumbs-up, and three give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Plains Exploration & Production is hold, with an average price target of $47.45.
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