The 10-second takeaway
For the quarter ended Dec. 31 (Q4), Abraxas Petroleum whiffed on revenues and missed expectations on earnings per share.
Compared to the prior-year quarter, revenue expanded significantly, and GAAP loss per share shrank.
Gross margins dropped, operating margins grew, and net margins improved.
Abraxas Petroleum booked revenue of $16.5 million. The nine analysts polled by S&P Capital IQ predicted revenue of $20.9 million on the same basis. GAAP reported sales were 20% higher than the prior-year quarter's $13.1 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 -$0.12. The nine earnings estimates compiled by S&P Capital IQ predicted $0.05 per share on the same basis. GAAP EPS were -$0.06 for Q4 against -$0.11 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 55%, 390 basis points worse than the prior-year quarter. Operating margin was -26.3%, 10,250 basis points better than the prior-year quarter. Net margin was -33.7%, 7,250 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $19.5 million. On the bottom line, the average EPS estimate is $0.05.
Next year's average estimate for revenue is $88.7 million. The average EPS estimate is $0.19.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 736 members rating the stock outperform and 27 members rating it underperform. Among 122 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 117 give Abraxas Petroleum a green thumbs-up, and five give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Abraxas Petroleum is buy, with an average price target of $5.50.
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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.