The 10-second takeaway
For the quarter ended March 31 (Q1), Gulfport Energy missed estimates on revenues and earnings per share.
Compared with the prior-year quarter, revenue increased significantly and GAAP earnings per share expanded.
Gross margins increased, operating margins shrank, net margins shrank.
Gulfport Energy recorded revenue of $65.5 million. The five analysts polled by S&P Capital IQ expected a top line of $68.9 million on the same basis. GAAP reported sales were 41% higher than the prior-year quarter's $46.6 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 $0.48. The 11 earnings estimates compiled by S&P Capital IQ forecast $0.59 per share. GAAP EPS of $0.48 for Q1 were 2.1% higher than the prior-year quarter's $0.47 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 79.2%, 100 basis points better than the prior-year quarter. Operating margin was 41.6%, 570 basis points worse than the prior-year quarter. Net margin was 41.0%, 450 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $72.5 million. On the bottom line, the average EPS estimate is $0.61.
Next year's average estimate for revenue is $304.5 million. The average EPS estimate is $2.58.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Gulfport Energy is outperform, with an average price target of $41.45.
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