The 10-second takeaway
For the quarter ended Sep. 30 (Q3), Oasis Petroleum beat expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue increased significantly and GAAP earnings per share dropped significantly.
Margins dropped across the board.
Oasis Petroleum booked revenue of $184.7 million. The 12 analysts polled by S&P Capital IQ expected to see net sales of $170.7 million on the same basis. GAAP reported sales were much higher than the prior-year quarter's $87.6 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 $0.38. The 18 earnings estimates compiled by S&P Capital IQ predicted $0.36 per share. GAAP EPS of $0.20 for Q3 were 72% lower than the prior-year quarter's $0.72 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 77.9%, 70 basis points worse than the prior-year quarter. Operating margin was 39.0%, 8,830 basis points worse than the prior-year quarter. Net margin was 9.9%, 6,580 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $199.0 million. On the bottom line, the average EPS estimate is $0.45.
Next year's average estimate for revenue is $655.3 million. The average EPS estimate is $1.43.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 133 members out of 136 rating the stock outperform, and three members rating it underperform. Among 32 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 32 give Oasis Petroleum a green thumbs-up, and give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Oasis Petroleum is outperform, with an average price target of $38.67.
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