The 10-second takeaway
For the quarter ended March 31 (Q1), Warren Resources beat expectations on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue grew significantly and GAAP earnings per share increased.
Margins grew across the board.
Warren Resources tallied revenue of $28.4 million. The three analysts polled by S&P Capital IQ looked for sales of $26.2 million on the same basis. GAAP reported sales were 22% higher than the prior-year quarter's $23.2 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.06. The six earnings estimates compiled by S&P Capital IQ predicted $0.07 per share. GAAP EPS were $0.05 for Q1 versus -$0.01 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 70%, 340 basis points better than the prior-year quarter. Operating margin was 19.2%, 1,930 basis points better than the prior-year quarter. Net margin was 13.4%, 1,590 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $27.5 million. On the bottom line, the average EPS estimate is $0.08.
Next year's average estimate for revenue is $122.4 million. The average EPS estimate is $0.37.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 310 members rating the stock outperform and 15 members rating it underperform. Among 76 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 73 give Warren Resources a green thumbs-up, and three give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Warren Resources is outperform, with an average price target of $4.65.
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