Energy XXI (Bermuda)
The 10-second takeaway
For the quarter ended March 31 (Q3), Energy XXI (Bermuda) missed estimates on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue dropped. GAAP earnings per share dropped significantly.
Margins shrank across the board.
Energy XXI (Bermuda) logged revenue of $303.8 million. The eight analysts polled by S&P Capital IQ anticipated a top line of $314.3 million on the same basis. GAAP reported sales were 9.6% lower than the prior-year quarter's $336.0 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 $0.46. The 12 earnings estimates compiled by S&P Capital IQ anticipated $0.48 per share. GAAP EPS of $0.46 for Q3 were 56% lower than the prior-year quarter's $1.04 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 69.7%, 580 basis points worse than the prior-year quarter. Operating margin was 32.9%, 480 basis points worse than the prior-year quarter. Net margin was 13.3%, much worse than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $361.7 million. On the bottom line, the average EPS estimate is $0.58.
Next year's average estimate for revenue is $1.27 billion. The average EPS estimate is $1.77.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 198 members out of 211 rating the stock outperform, and 13 members rating it underperform. Among 41 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 38 give Energy XXI (Bermuda) 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 Energy XXI (Bermuda) is outperform, with an average price target of $39.15.
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