Plains Exploration & Production (NYSE: PXP) reported earnings on Feb. 21. Here are the numbers you need to know.

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.

Revenue details
 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 details
 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.

Margin details
 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.

Looking ahead
 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.

Investor sentiment
 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.

Is Plains Exploration & Production the right energy stock for you? Read about a handful of timely, profit-producing plays on expensive crude in "3 Stocks for $100 Oil." Click here for instant access to this free report.