PDC Energy
The 10-second takeaway
For the quarter ended Sep. 30 (Q3), PDC Energy whiffed on revenues and missed expectations on earnings per share.
Compared to the prior-year quarter, revenue dropped significantly and GAAP earnings per share contracted to a loss.
Margins contracted across the board.
Revenue details
PDC Energy logged revenue of $41.2 million. The 11 analysts polled by S&P Capital IQ expected revenue of $92.0 million on the same basis. GAAP reported sales were 58% lower than the prior-year quarter's $98.3 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 -$0.16. The 13 earnings estimates compiled by S&P Capital IQ predicted -$0.08 per share. GAAP EPS were -$1.08 for Q3 compared to $1.37 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 21.4%, 4,490 basis points worse than the prior-year quarter. Operating margin was -99.4%, 16,270 basis points worse than the prior-year quarter. Net margin was -79.3%, 11,240 basis points worse than the prior-year quarter.
Looking ahead
Next quarter's average estimate for revenue is $102.2 million. On the bottom line, the average EPS estimate is -$0.01.
Next year's average estimate for revenue is $385.8 million. The average EPS estimate is $0.12.
Investor sentiment
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 277 members out of 302 rating the stock outperform, and 25 members rating it underperform. Among 69 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 66 give PDC Energy 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 PDC Energy is outperform, with an average price target of $40.15.
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