Teekay Offshore Partners
The 10-second takeaway
For the quarter ended Dec. 31 (Q4), Teekay Offshore Partners beat expectations on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue grew, and GAAP earnings per share shrank to a loss.
Gross margins improved, operating margins grew, and net margins dropped.
Teekay Offshore Partners reported revenue of $238.1 million. The four analysts polled by S&P Capital IQ expected a top line of $214.2 million on the same basis. GAAP reported sales were 9.4% lower than the prior-year quarter's $262.8 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 $0.34. The three earnings estimates compiled by S&P Capital IQ predicted $0.37 per share on the same basis. GAAP EPS were -$0.62 for Q4 against $0.95 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 49.8%, 350 basis points better than the prior-year quarter. Operating margin was 21.7%, 640 basis points better than the prior-year quarter. Net margin was -17.3%, 2,960 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $231.1 million. On the bottom line, the average EPS estimate is $0.40.
Next year's average estimate for revenue is $929.3 million. The average EPS estimate is $1.47.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 104 members rating the stock outperform and 12 members rating it underperform. Among 30 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 28 give Teekay Offshore Partners 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 Teekay Offshore Partners is outperform, with an average price target of $30.22.
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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.