The 10-second takeaway
For the quarter ended June 30 (Q2), Hercules Offshore missed estimates on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue expanded significantly. Non-GAAP earnings per share increased. GAAP loss per share contracted.
Margins grew across the board.
Hercules Offshore reported revenue of $211.5 million. The 12 analysts polled by S&P Capital IQ expected revenue of $223.4 million on the same basis. GAAP reported sales were 18% higher than the prior-year quarter's $179.0 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures are normalized by S&P Capital IQ and may vary to maintain comparability with normalized estimates.
EPS came in at $0.01. The 20 earnings estimates compiled by S&P Capital IQ predicted $0.05 per share. Non-GAAP EPS were $0.01 for Q2 against -$0.12 per share for the prior-year quarter. GAAP EPS were -$0.17 for Q2 compared to -$0.35 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures are normalized by S&P Capital IQ and may vary to maintain comparability with normalized estimates.
For the quarter, gross margin was 43.8%, much better than the prior-year quarter. Operating margin was 15.7%, much better than the prior-year quarter. Net margin was -12.9%, much better than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $240.8 million. On the bottom line, the average EPS estimate is $0.09.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 1,546 members out of 1,611 rating the stock outperform, and 65 members rating it underperform. Among 331 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 319 give Hercules Offshore a green thumbs-up, and 12 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Hercules Offshore is outperform, with an average price target of $9.09.
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