Atwood Oceanics
The 10-second takeaway
For the quarter ended June 30 (Q3), Atwood Oceanics beat expectations on revenues and earnings per share.
Compared to the prior-year quarter, revenue improved and GAAP earnings per share contracted significantly.
Margins contracted across the board.
Revenue details
Atwood Oceanics logged revenue of $178.6 million. The nine analysts polled by S&P Capital IQ predicted sales of $170.8 million on the same basis. GAAP reported sales were 10% higher than the prior-year quarter's $162.1 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS details
EPS came in at $0.79. The 11 earnings estimates compiled by S&P Capital IQ predicted $0.74 per share. GAAP EPS of $0.79 for Q3 were 31% lower than the prior-year quarter's $1.15 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
Margin details
For the quarter, gross margin was 51.1%, 1,620 basis points worse than the prior-year quarter. Operating margin was 35.5%, 1,940 basis points worse than the prior-year quarter. Net margin was 29.0%, 1,740 basis points worse than the prior-year quarter.
Looking ahead
Next quarter's average estimate for revenue is $223.6 million. On the bottom line, the average EPS estimate is $1.26.
Next year's average estimate for revenue is $760.4 million. The average EPS estimate is $3.88.
Investor sentiment
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 2,360 members out of 2,381 rating the stock outperform, and 21 members rating it underperform. Among 566 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 561 give Atwood Oceanics a green thumbs-up, and five give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Atwood Oceanics is outperform, with an average price target of $52.96.
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