The 10-second takeaway
For the quarter ended March 31 (Q1), SandRidge Energy beat expectations on both revenue and earnings per share.
Compared to the prior-year quarter, revenue grew significantly and GAAP loss per share contracted.
Margins improved across the board.
SandRidge Energy tallied revenue of $381.6 million. The 13 analysts polled by S&P Capital IQ foresaw revenue of $366.9 million on the same basis. GAAP-reported sales were 22% higher than the prior-year quarter's $312.8 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 $0.04. The 21 earnings estimates compiled by S&P Capital IQ averaged $0.02 per share. GAAP EPS were -$0.58 for Q1, versus -$0.79 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 68.3%, 730 basis points better than the prior-year quarter. Operating margin was -38.9%, 2,750 basis points better than the prior-year quarter. Net margin was -57.2%, 3,940 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $453 million. On the bottom line, the average EPS estimate is $0.01.
Next year's average estimate for revenue is $1.96 billion. The average EPS estimate is $0.12.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 1,438 members rating the stock outperform and 49 members rating it underperform. Among 308 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 298 give SandRidge Energy a green thumbs-up, and 10 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on SandRidge Energy is hold, with an average price target of $10.43.
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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.