Energy XXI (Nasdaq: EXXI) reported earnings on Feb. 1. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended Dec. 31 (Q2), Energy XXI beat expectations on revenues and earnings per share.

Compared to the prior-year quarter, revenue improved significantly and GAAP earnings per share grew.

Margins grew across the board.

Revenue details
Energy XXI tallied revenue of $340.6 million. The nine analysts polled by S&P Capital IQ predicted sales of $289.1 million. Sales were 96% higher than the prior-year quarter's $174.0 million.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions.

EPS details
EPS came in at $1.11. The 11 earnings estimates compiled by S&P Capital IQ averaged $0.69 per share. GAAP EPS were $1.11 for Q2 versus -$0.17 per share for the prior-year quarter.

Source: S&P Capital IQ. Quarterly periods. Figures may be non-GAAP to maintain comparability with estimates.

Margin details
For the quarter, gross margin was 76.9%, 330 basis points better than the prior-year quarter. Operating margin was 40.5%, 1,490 basis points better than the prior-year quarter. Net margin was 28.5%, 2,220 basis points better than the prior-year quarter.

Looking ahead
Next quarter's average estimate for revenue is $318.0 million. On the bottom line, the average EPS estimate is $0.74.

Next year's average estimate for revenue is $1.25 billion. The average EPS estimate is $2.92.

Investor sentiment
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 185 members out of 198 rating the stock outperform, and 13 members rating it underperform. Among 52 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 50 give Energy XXI a green thumbs-up, and two give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Energy XXI is outperform, with an average price target of $39.08.

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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. 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.