The 10-second takeaway
For the quarter ended Dec. 31 (Q4), Noble missed slightly on revenue and missed slightly on earnings per share.
Compared to the prior-year quarter, revenue grew significantly, and earnings per share expanded significantly.
Margins improved across the board.
Noble recorded revenue of $751.0 million. The 22 analysts polled by S&P Capital IQ wanted to see revenue of $763.0 million. Sales were 17% higher than the prior-year quarter's $643.8 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions.
Non-GAAP EPS came in at $0.50. The 32 earnings estimates compiled by S&P Capital IQ predicted $0.51 per share on the same basis. GAAP EPS of $2.00 for Q4 were 415% higher than the prior-year quarter's $0.39 per share.
Source: S&P Capital IQ. Quarterly periods. Figures may be non-GAAP to maintain comparability with estimates.
For the quarter, gross margin was 46.8%, 1,820 basis points better than the prior-year quarter. Operating margin was 21.5%, 340 basis points better than the prior-year quarter. Net margin was 16.9%, 160 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $839.0 million. On the bottom line, the average EPS estimate is $0.65.
Next year's average estimate for revenue is $3.74 billion. The average EPS estimate is $3.56.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 2,276 members out of 2,306 rating the stock outperform, and 30 members rating it underperform. Among 658 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 654 give Noble 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 Noble is outperform, with an average price target of $44.00.
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