The 10-second takeaway
For the quarter ended June 30 (Q2), Noble Energy missed estimates on revenue and whiffed on earnings per share.
Compared to the prior-year quarter, revenue expanded slightly and GAAP earnings per share dropped slightly.
Margins dropped across the board.
Noble Energy reported revenue of $966.0 million. The 14 analysts polled by S&P Capital IQ expected revenue of $1.02 billion on the same basis. GAAP reported sales were 6.6% higher than the prior-year quarter's $906.0 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 $0.77. The 24 earnings estimates compiled by S&P Capital IQ forecast $1.00 per share. GAAP EPS of $1.58 for Q2 were 2.5% lower than the prior-year quarter's $1.62 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 82.5%, 40 basis points worse than the prior-year quarter. Operating margin was 14.3%, 2,590 basis points worse than the prior-year quarter. Net margin was 30.2%, 230 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $1.15 billion. On the bottom line, the average EPS estimate is $1.37.
Next year's average estimate for revenue is $4.51 billion. The average EPS estimate is $5.67.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 388 members out of 405 rating the stock outperform, and 17 members rating it underperform. Among 99 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 93 give Noble 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 Noble Energy is outperform, with an average price target of $118.17.
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