ATP Oil & Gas
The 10-second takeaway
For the quarter ended March 31 (Q1), ATP Oil & Gas whiffed on revenues and missed expectations on earnings per share.
Compared with he prior-year quarter, revenue contracted and GAAP loss per share grew.
Gross margins grew, operating margins improved, net margins dropped.
ATP Oil & Gas chalked up revenue of $146.6 million. The two analysts polled by S&P Capital IQ expected to see a top line of $178.4 million on the same basis. GAAP reported sales were 12% lower than the prior-year quarter's $166.5 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 -$1.98. The two earnings estimates compiled by S&P Capital IQ anticipated -$0.31 per share. GAAP EPS were -$2.83 for Q1 compared to -$2.34 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 81.6%, 110 basis points better than the prior-year quarter. Operating margin was 8.1%, 1,420 basis points better than the prior-year quarter. Net margin was -94.7%, 2,460 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $210.7 million. On the bottom line, the average EPS estimate is -$0.30.
Next year's average estimate for revenue is $868.8 million. The average EPS estimate is -$0.86.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 1,316 members out of 1,361 rating the stock outperform, and 45 members rating it underperform. Among 321 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 308 give ATP Oil & Gas a green thumbs-up, and 13 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on ATP Oil & Gas is hold, with an average price target of $9.83.
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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. He is the 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 don't 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.