EPL Oil & Gas (NYSE: EPL) is expected to report Q2 earnings on Aug. 1. 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 EPL Oil & Gas's revenues will increase 84.1% and EPS will grow 86.5%.

The average estimate for revenue is $182.8 million. On the bottom line, the average EPS estimate is $0.97.

Revenue details
 Last quarter, EPL Oil & Gas booked revenue of $182.3 million. 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
 Last quarter, non-GAAP EPS came in at $0.91. GAAP EPS of $0.73 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.

Recent performance
 For the preceding quarter, gross margin was 76.8%, 440 basis points worse than the prior-year quarter. Operating margin was 32.2%, much better than the prior-year quarter. Net margin was 15.9%, much better than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $739.2 million. The average EPS estimate is $3.98.

Investor sentiment
 The stock has a four-star rating (out of five) at Motley Fool CAPS, with 156 members out of 166 rating the stock outperform, and 10 members rating it underperform. Among 43 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 39 give EPL Oil & Gas a green thumbs-up, and four 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.

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