The 10-second takeaway
For the quarter ended Dec. 31 (Q4), Goodrich Petroleum whiffed on revenues and missed expectations on earnings per share.
Compared to the prior-year quarter, revenue improved significantly and GAAP loss per share dropped.
Margins expanded across the board.
Goodrich Petroleum logged revenue of $51.4 million. The 12 analysts polled by S&P Capital IQ predicted revenue of $62.7 million on the same basis. GAAP reported sales were 42% higher than the prior-year quarter's $36.3 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
Non-GAAP EPS came in at -$0.38. The 17 earnings estimates compiled by S&P Capital IQ predicted -$0.20 per share on the same basis. GAAP EPS were -$0.66 for Q4 compared to -$0.92 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 75.4%, 190 basis points better than the prior-year quarter. Operating margin was -19.5%, 3,250 basis points better than the prior-year quarter. Net margin was -43.4%, 4,290 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $70.8 million. On the bottom line, the average EPS estimate is -$0.05.
Next year's average estimate for revenue is $332.2 million. The average EPS estimate is -$0.29.
The stock has a two-star rating (out of five) at Motley Fool CAPS, with 200 members out of 227 rating the stock outperform, and 27 members rating it underperform. Among 57 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 50 give Goodrich Petroleum a green thumbs-up, and seven give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Goodrich Petroleum is outperform, with an average price target of $25.94.
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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.