Plains Exploration & Production (NYSE: PXP) reported earnings on Nov. 1. Here are the numbers you need to know.

The 10-second takeaway
 For the quarter ended Sep. 30 (Q3), Plains Exploration & Production met expectations on revenues and missed estimates on earnings per share.

Compared to the prior-year quarter, revenue expanded significantly and GAAP loss per share shrank.

Gross margins were steady, operating margins dropped, net margins grew.

Revenue details
 Plains Exploration & Production reported revenue of $605.1 million. The seven analysts polled by S&P Capital IQ predicted a top line of $612.6 million on the same basis. GAAP reported sales were 21% higher than the prior-year quarter's $501.8 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 $0.39. The 16 earnings estimates compiled by S&P Capital IQ predicted $0.42 per share. GAAP EPS were -$0.41 for Q3 against -$0.62 per share for the prior-year quarter.

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 73.5%, about the same as the prior-year quarter. Operating margin was 22.9%, 3,570 basis points worse than the prior-year quarter. Net margin was -8.8%, 880 basis points better than the prior-year quarter.

Looking ahead
 Next quarter's average estimate for revenue is $634.7 million. On the bottom line, the average EPS estimate is $0.42.

Next year's average estimate for revenue is $2.38 billion. The average EPS estimate is $1.85.

Investor sentiment
 The stock has a four-star rating (out of five) at Motley Fool CAPS, with 394 members out of 407 rating the stock outperform, and 13 members rating it underperform. Among 80 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 77 give Plains Exploration & Production 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 Plains Exploration & Production is outperform, with an average price target of $52.63.

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