The 10-second takeaway
For the quarter ended March 31 (Q1), PetroQuest Energy beat slightly on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue contracted and GAAP earnings per share dropped to a loss.
Margins shrank across the board.
PetroQuest Energy recorded revenue of $36.0 million. The five analysts polled by S&P Capital IQ wanted to see net sales of $35.3 million on the same basis. GAAP reported sales were 13% lower than the prior-year quarter's $41.6 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 $0.01. The eight earnings estimates compiled by S&P Capital IQ forecast $0.02 per share. GAAP EPS were -$0.30 for Q1 versus $0.03 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 70.0%, 440 basis points worse than the prior-year quarter. Operating margin was -44.9%, 7,310 basis points worse than the prior-year quarter. Net margin was -48.1%, 5,570 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $38.7 million. On the bottom line, the average EPS estimate is $0.02.
Next year's average estimate for revenue is $158.7 million. The average EPS estimate is $0.01.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 450 members out of 469 rating the stock outperform, and 19 members rating it underperform. Among 99 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 93 give PetroQuest Energy a green thumbs-up, and six give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on PetroQuest Energy is outperform, with an average price target of $9.50.
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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.