The 10-second takeaway
For the quarter ended Dec. 31 (Q4), Goodrich Petroleum whiffed on revenues and missed expectations on earnings per share.
Compared to the prior-year quarter, revenue shrank. Non-GAAP loss per share dropped. GAAP loss per share increased.
Gross margins grew, operating margins dropped, net margins contracted.
Goodrich Petroleum booked revenue of $48.2 million. The 13 analysts polled by S&P Capital IQ expected a top line of $65.4 million on the same basis. GAAP reported sales were 6.2% lower than the prior-year quarter's $51.4 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 -$0.19. The 20 earnings estimates compiled by S&P Capital IQ predicted -$0.08 per share. Non-GAAP EPS were -$0.19 for Q4 compared to -$0.38 per share for the prior-year quarter. GAAP EPS were -$2.12 for Q4 compared to -$0.66 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 79.5%, 490 basis points better than the prior-year quarter. Operating margin was -46.4%, 2,800 basis points worse than the prior-year quarter. Net margin was -156.9%, 11,350 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $57.6 million. On the bottom line, the average EPS estimate is -$0.39.
Next year's average estimate for revenue is $259.7 million. The average EPS estimate is -$1.31.
The stock has a two-star rating (out of five) at Motley Fool CAPS, with 198 members out of 225 rating the stock outperform, and 27 members rating it underperform. Among 49 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 41 give Goodrich Petroleum 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 Goodrich Petroleum is outperform, with an average price target of $16.40.
Is Goodrich Petroleum the right energy stock for you? Read about a handful of timely, profit-producing plays on expensive crude in "3 Stocks for $100 Oil." Click here for instant access to this free report.
- Add Goodrich Petroleum 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 position in any of the stocks mentioned. 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.