The 10-second takeaway
For the quarter ended Sep. 30 (Q3), BPZ Resources met expectations on revenues and exceeded 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.
BPZ Resources booked revenue of $28.7 million. The one analyst polled by S&P Capital IQ anticipated sales of $28.4 million on the same basis. GAAP reported sales were 21% lower than the prior-year quarter's $36.2 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 -$0.12. The three earnings estimates compiled by S&P Capital IQ averaged -$0.16 per share. GAAP EPS were -$0.15 for Q3 versus $0.05 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 27.6%, 4,070 basis points worse than the prior-year quarter. Operating margin was -46.1%, 6,570 basis points worse than the prior-year quarter. Net margin was -59.8%, 7,560 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $30.5 million. On the bottom line, the average EPS estimate is -$0.12.
Next year's average estimate for revenue is $131.0 million. The average EPS estimate is -$0.53.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 835 members out of 873 rating the stock outperform, and 38 members rating it underperform. Among 117 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 106 give BPZ Resources 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 BPZ Resources is outperform, with an average price target of $5.13.
Are you missing a major story in the energy space? Read about "One Stock to Own Before Nat Gas Act 2011 Becomes Law." Click here for instant access to this free report.
- Add BPZ Resources to My Watchlist.
Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. The Motley Fool has no positions in the stocks mentioned above. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.