The 10-second takeaway
For the quarter ended Dec. 31 (Q4), Ultra Petroleum whiffed on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue shrank significantly and GAAP earnings per share shrank to a loss.
Margins shrank across the board.
Ultra Petroleum notched revenue of $217.2 million. The 12 analysts polled by S&P Capital IQ predicted revenue of $261.4 million on the same basis. GAAP reported sales were 20% lower than the prior-year quarter's $270.8 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 $0.51. The 22 earnings estimates compiled by S&P Capital IQ predicted $0.53 per share. GAAP EPS were -$3.09 for Q4 against $0.86 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 69.6%, 450 basis points worse than the prior-year quarter. Operating margin was 30.8%, 5,140 basis points worse than the prior-year quarter. Net margin was -217.3%, 26,600 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $218.6 million. On the bottom line, the average EPS estimate is $0.25.
Next year's average estimate for revenue is $904.2 million. The average EPS estimate is $1.09.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 1,518 members out of 1,574 rating the stock outperform, and 56 members rating it underperform. Among 331 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 319 give Ultra Petroleum a green thumbs-up, and 12 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Ultra Petroleum is hold, with an average price target of $25.47.
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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 recommends Ultra Petroleum. The Motley Fool owns shares of Ultra Petroleum and has the following options: Long Jan 2014 $30 Calls on Ultra Petroleum, Long Jan 2014 $40 Calls on Ultra Petroleum, and Long Jan 2014 $50 Calls on Ultra Petroleum. 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.