Pioneer Energy Services
The 10-second takeaway
For the quarter ended Sep. 30 (Q3), Pioneer Energy Services met expectations on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue grew significantly and GAAP earnings per share shrank significantly.
Margins shrank across the board.
Revenue details
Pioneer Energy Services tallied revenue of $229.8 million. The six analysts polled by S&P Capital IQ expected to see net sales of $228.8 million on the same basis. GAAP reported sales were 22% higher than the prior-year quarter's $187.7 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 $0.04. The 10 earnings estimates compiled by S&P Capital IQ predicted $0.08 per share. GAAP EPS of $0.04 for Q3 were 64% lower than the prior-year quarter's $0.11 per share.
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 33.2%, 450 basis points worse than the prior-year quarter. Operating margin was 5.8%, 480 basis points worse than the prior-year quarter. Net margin was 1.1%, 250 basis points worse than the prior-year quarter.
Looking ahead
Next quarter's average estimate for revenue is $233.4 million. On the bottom line, the average EPS estimate is $0.06.
Next year's average estimate for revenue is $922.3 million. The average EPS estimate is $0.53.
Investor sentiment
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 591 members out of 616 rating the stock outperform, and 25 members rating it underperform. Among 118 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 110 give Pioneer Energy Services a green thumbs-up, and eight give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Pioneer Energy Services is hold, with an average price target of $10.29.
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