Carrizo Oil & Gas
The 10-second takeaway
For the quarter ended Sep. 30 (Q3), Carrizo Oil & Gas beat expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue expanded significantly and GAAP earnings per share dropped to a loss.
Gross margins expanded, operating margins dropped, net margins contracted.
Carrizo Oil & Gas booked revenue of $105.9 million. The eight analysts polled by S&P Capital IQ anticipated revenue of $99.7 million on the same basis. GAAP reported sales were much higher than the prior-year quarter's $51.7 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 $0.44. The 15 earnings estimates compiled by S&P Capital IQ forecast $0.39 per share. GAAP EPS were -$0.02 for Q3 versus $0.55 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 90.0%, 670 basis points better than the prior-year quarter. Operating margin was 32.1%, 5,030 basis points worse than the prior-year quarter. Net margin was -0.9%, 4,280 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $124.2 million. On the bottom line, the average EPS estimate is $0.60.
Next year's average estimate for revenue is $407.3 million. The average EPS estimate is $1.65.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 259 members out of 289 rating the stock outperform, and 30 members rating it underperform. Among 61 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 52 give Carrizo Oil & Gas a green thumbs-up, and nine give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Carrizo Oil & Gas is outperform, with an average price target of $33.79.
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