The 10-second takeaway
For the quarter ended March 31 (Q1), Oasis Petroleum beat expectations on revenues and crushed expectations on earnings per share.
Compared to the prior-year quarter, revenue expanded significantly. Non-GAAP earnings per share grew significantly. GAAP earnings per share increased significantly.
Gross margins contracted, operating margins increased, net margins increased.
Oasis Petroleum reported revenue of $248.3 million. The 12 analysts polled by S&P Capital IQ predicted a top line of $222.3 million on the same basis. GAAP reported sales were 79% higher than the prior-year quarter's $138.6 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 $0.67. The 22 earnings estimates compiled by S&P Capital IQ predicted $0.51 per share. Non-GAAP EPS of $0.67 for Q1 were 123% higher than the prior-year quarter's $0.30 per share. GAAP EPS of $0.56 for Q1 were 211% higher than the prior-year quarter's $0.18 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 80.7%, 40 basis points worse than the prior-year quarter. Operating margin was 47.5%, much better than the prior-year quarter. Net margin was 20.9%, 900 basis points better than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $236.2 million. On the bottom line, the average EPS estimate is $0.55.
Next year's average estimate for revenue is $1.02 billion. The average EPS estimate is $2.42.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 134 members out of 135 rating the stock outperform, and one members rating it underperform. Among 29 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 29 give Oasis Petroleum a green thumbs-up, and give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Oasis Petroleum is outperform, with an average price target of $43.24.
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