The 10-second takeaway
For the quarter ended June 30 (Q2), Gulfport Energy beat expectations on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue grew significantly and GAAP earnings per share contracted significantly.
Gross margins expanded, operating margins contracted, net margins contracted.
Gulfport Energy recorded revenue of $66.3 million. The four analysts polled by S&P Capital IQ foresaw revenue of $63.2 million on the same basis. GAAP reported sales were 19% higher than the prior-year quarter's $55.5 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 $0.45. The 10 earnings estimates compiled by S&P Capital IQ predicted $0.49 per share. GAAP EPS of $0.45 for Q2 were 21% lower than the prior-year quarter's $0.57 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 80.0%, 60 basis points better than the prior-year quarter. Operating margin was 39.1%, 1,150 basis points worse than the prior-year quarter. Net margin was 37.9%, 1,120 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $70.5 million. On the bottom line, the average EPS estimate is $0.50.
Next year's average estimate for revenue is $281.4 million. The average EPS estimate is $2.01.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Gulfport Energy is buy, with an average price target of $34.33.
- Add Gulfport Energy to My Watchlist.