Hornbeck Offshore Services
The 10-second takeaway
For the quarter ended June 30 (Q2), Hornbeck Offshore Services met expectations on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue grew significantly and GAAP earnings per share grew.
Margins expanded across the board.
Hornbeck Offshore Services tallied revenue of $131.6 million. The seven analysts polled by S&P Capital IQ foresaw a top line of $133.3 million on the same basis. GAAP reported sales were 63% higher than the prior-year quarter's $80.8 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 $0.35. The 12 earnings estimates compiled by S&P Capital IQ predicted $0.42 per share. GAAP EPS were $0.33 for Q2 against -$0.26 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 51.8%, 1,170 basis points better than the prior-year quarter. Operating margin was 25.7%, 2,100 basis points better than the prior-year quarter. Net margin was 9.1%, 1,780 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $135.0 million. On the bottom line, the average EPS estimate is $0.49.
Next year's average estimate for revenue is $528.5 million. The average EPS estimate is $1.67.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 384 members out of 396 rating the stock outperform, and 12 members rating it underperform. Among 100 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 97 give Hornbeck Offshore Services 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 Hornbeck Offshore Services is outperform, with an average price target of $48.50.
- Add Hornbeck Offshore Services to My Watchlist.