Pioneer Energy Services
The 10-second takeaway
For the quarter ended March 31 (Q1), Pioneer Energy Services beat slightly on revenues and exceeded expectations on earnings per share.
Compared to the prior-year quarter, revenue shrank slightly. GAAP earnings per share dropped to a loss.
Margins dropped across the board.
Pioneer Energy Services chalked up revenue of $229.7 million. The six analysts polled by S&P Capital IQ expected sales of $226.3 million on the same basis. GAAP reported sales were the same as the prior-year quarter's.
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 -$0.02. The nine earnings estimates compiled by S&P Capital IQ anticipated -$0.03 per share. GAAP EPS were -$0.02 for Q1 versus $0.23 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 34.9%, 400 basis points worse than the prior-year quarter. Operating margin was 4.5%, 880 basis points worse than the prior-year quarter. Net margin was -0.6%, 670 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $235.6 million. On the bottom line, the average EPS estimate is -$0.01.
Next year's average estimate for revenue is $946.1 million. The average EPS estimate is $0.00.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 586 members out of 611 rating the stock outperform, and 25 members rating it underperform. Among 106 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 100 give Pioneer Energy Services 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 Pioneer Energy Services is outperform, with an average price target of $10.29.
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