Pioneer Energy Services
The 10-second takeaway
For the quarter ended June 30 (Q2), Pioneer Energy Services missed estimates on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue improved significantly and GAAP earnings per share expanded significantly.
Margins expanded across the board.
Pioneer Energy Services booked revenue of $229.8 million. The five analysts polled by S&P Capital IQ expected a top line of $235.4 million on the same basis. GAAP reported sales were 34% higher than the prior-year quarter's $171.3 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 $0.15. The eight earnings estimates compiled by S&P Capital IQ anticipated $0.17 per share. GAAP EPS of $0.15 for Q2 were 114% higher than the prior-year quarter's $0.07 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 37.2%, 200 basis points better than the prior-year quarter. Operating margin was 10.1%, 310 basis points better than the prior-year quarter. Net margin was 4.2%, 210 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $243.1 million. On the bottom line, the average EPS estimate is $0.18.
Next year's average estimate for revenue is $950.5 million. The average EPS estimate is $0.73.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 595 members out of 620 rating the stock outperform, and 25 members rating it underperform. Among 107 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 99 give Pioneer Energy Services a green thumbs-up, and eight give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Pioneer Energy Services is outperform, with an average price target of $12.57.
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Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. The Motley Fool has no positions in the stocks mentioned above. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.