EPL Oil & Gas (NYSE: EPL) reported earnings on May 2. Here are the numbers you need to know.

The 10-second takeaway
 For the quarter ended March 31 (Q1), EPL Oil & Gas beat expectations on revenues and beat expectations on earnings per share.

Compared to the prior-year quarter, revenue grew significantly. Non-GAAP earnings per share grew significantly. GAAP earnings per share grew significantly.

Gross margins dropped, operating margins increased, net margins grew.

Revenue details
 EPL Oil & Gas logged revenue of $182.3 million. The eight analysts polled by S&P Capital IQ foresaw a top line of $165.6 million on the same basis. GAAP reported sales were 85% higher than the prior-year quarter's $98.8 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 $0.91. The 11 earnings estimates compiled by S&P Capital IQ forecast $0.84 per share. Non-GAAP EPS of $0.91 for Q1 were 168% higher than the prior-year quarter's $0.34 per share. GAAP EPS of $0.74 for Q1 were much higher than the prior-year quarter's $0.04 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 76.8%, 440 basis points worse than the prior-year quarter. Operating margin was 39.9%, much better than the prior-year quarter. Net margin was 15.9%, much better than the prior-year quarter. (Margins calculated in GAAP terms.)

Looking ahead
 Next quarter's average estimate for revenue is $172.4 million. On the bottom line, the average EPS estimate is $0.93.

Next year's average estimate for revenue is $695.2 million. The average EPS estimate is $3.78.

Investor sentiment
 The stock has a four-star rating (out of five) at Motley Fool CAPS, with 150 members out of 160 rating the stock outperform, and 10 members rating it underperform. Among 36 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 33 give EPL Oil & Gas 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 EPL Oil & Gas is outperform, with an average price target of $32.14.

Is EPL Oil & Gas 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.