The 10-second takeaway
For the quarter ended Sep. 30 (Q3), SandRidge Energy met expectations on revenues and exceeded 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 shrank, net margins dropped.
SandRidge Energy reported revenue of $532.8 million. The 14 analysts polled by S&P Capital IQ predicted revenue of $527.9 million on the same basis. GAAP reported sales were 46% higher than the prior-year quarter's $363.8 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 $0.05. The 22 earnings estimates compiled by S&P Capital IQ averaged $0.00 per share. GAAP EPS were -$0.39 for Q3 against $1.16 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 66.9%, 200 basis points better than the prior-year quarter. Operating margin was -14.2%, 20,560 basis points worse than the prior-year quarter. Net margin was -32.0%, 19,010 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $574.4 million. On the bottom line, the average EPS estimate is $0.01.
Next year's average estimate for revenue is $1.97 billion. The average EPS estimate is $0.11.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 1,504 members out of 1,560 rating the stock outperform, and 56 members rating it underperform. Among 310 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 299 give SandRidge Energy a green thumbs-up, and 11 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on SandRidge Energy is outperform, with an average price target of $9.11.
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