Berry Petroleum (NYSE: BRY) reported earnings on May 6. Here are the numbers you need to know.

The 10-second takeaway
 For the quarter ended March 31 (Q1), Berry Petroleum beat slightly on revenues and whiffed on earnings per share.

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

Margins shrank across the board.

Revenue details
 Berry Petroleum booked revenue of $276.9 million. The seven analysts polled by S&P Capital IQ foresaw a top line of $271.7 million on the same basis. GAAP reported sales were 15% higher than the prior-year quarter's $241.5 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 $0.67. The 12 earnings estimates compiled by S&P Capital IQ predicted $0.87 per share. Non-GAAP EPS of $0.67 for Q1 were 26% lower than the prior-year quarter's $0.91 per share. GAAP EPS of $0.58 for Q1 were 4.9% lower than the prior-year quarter's $0.61 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 62.4%, 790 basis points worse than the prior-year quarter. Operating margin was 28.4%, 750 basis points worse than the prior-year quarter. Net margin was 11.7%, 230 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)

Looking ahead
 Next quarter's average estimate for revenue is $276.5 million. On the bottom line, the average EPS estimate is $0.83.

Next year's average estimate for revenue is $1.12 billion. The average EPS estimate is $3.56.

Investor sentiment
 The stock has a three-star rating (out of five) at Motley Fool CAPS, with 339 members out of 362 rating the stock outperform, and 23 members rating it underperform. Among 73 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 70 give Berry Petroleum 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 Berry Petroleum is hold, with an average price target of $43.63.

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