The 10-second takeaway
For the quarter ended Dec. 31 (Q4), Whiting Petroleum beat slightly on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue expanded significantly and GAAP earnings per share dropped.
Margins dropped across the board.
Whiting Petroleum recorded revenue of $498.6 million. The 18 analysts polled by S&P Capital IQ predicted a top line of $490.8 million on the same basis. GAAP reported sales were 23% higher than the prior-year quarter's $406.3 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 $1.05. The 27 earnings estimates compiled by S&P Capital IQ forecast $0.96 per share on the same basis. GAAP EPS of $0.53 for Q4 were 5.4% lower than the prior-year quarter's $0.56 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 75.7%, 40 basis points worse than the prior-year quarter. Operating margin was 22.2%, 660 basis points worse than the prior-year quarter. Net margin was 12.6%, 370 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $511.2 million. On the bottom line, the average EPS estimate is $0.95.
Next year's average estimate for revenue is $2.20 billion. The average EPS estimate is $4.15.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 686 members out of 705 rating the stock outperform, and 19 members rating it underperform. Among 144 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 140 give Whiting Petroleum 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 Whiting Petroleum is outperform, with an average price target of $64.98.
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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.