Atwood Oceanics (NYSE: ATW) is expected to report Q3 earnings on July 31. Here's what Wall Street wants to see:

The 10-second takeaway
Comparing the upcoming quarter to the prior-year quarter, average analyst estimates predict Atwood Oceanics's revenues will increase 52.3% and EPS will expand 70.9%.

The average estimate for revenue is $272.0 million. On the bottom line, the average EPS estimate is $1.35.

Revenue details
Last quarter, Atwood Oceanics notched revenue of $253.2 million. GAAP reported sales were 48% higher than the prior-year quarter's $171.6 million.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
Last quarter, EPS came in at $1.28. GAAP EPS of $1.28 for Q2 were 42% higher than the prior-year quarter's $0.90 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Recent performance
For the preceding quarter, gross margin was 57.5%, 370 basis points better than the prior-year quarter. Operating margin was 41.1%, 350 basis points better than the prior-year quarter. Net margin was 33.8%, 80 basis points worse than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $1.05 billion. The average EPS estimate is $5.17.

Investor sentiment
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 2,372 members out of 2,395 rating the stock outperform, and 23 members rating it underperform. Among 618 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 612 give Atwood Oceanics 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 Atwood Oceanics is outperform, with an average price target of $58.47.

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