The 10-second takeaway
For the quarter ended March 31 (Q1), Statoil beat expectations on revenue and crushed expectations on earnings per share.
Compared to the prior-year quarter, revenue improved significantly and GAAP earnings per share contracted.
Margins dropped across the board.
Statoil booked revenue of $34.25 billion. The nine analysts polled by S&P Capital IQ anticipated sales of $30.83 billion on the same basis. GAAP reported sales were 31% higher than the prior-year quarter's $26.05 billion.
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 $0.90. The one earnings estimate compiled by S&P Capital IQ predicted $0.72 per share. GAAP EPS of $0.83 for Q1 were 7.8% lower than the prior-year quarter's $0.90 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 40.3%, 240 basis points worse than the prior-year quarter. Operating margin was 29.5%, 110 basis points worse than the prior-year quarter. Net margin was 7.8%, 320 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $29.39 billion. On the bottom line, the average EPS estimate is $0.66.
Next year's average estimate for revenue is $118.92 billion. The average EPS estimate is $2.87.
The stock has a four-star rating (out of five) at Motley Fool CAPS. Among 242 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 239 give Statoil 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 Statoil is hold, with an average price target of $27.27.
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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. Motley Fool newsletter services have recommended buying shares of Statoil. 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.