Concho Resources (NYSE: CXO) reported earnings on Feb. 20. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended Dec. 31 (Q4), Concho Resources missed estimates on revenues and missed estimates on earnings per share.

Compared to the prior-year quarter, revenue was unchanged. Non-GAAP earnings per share dropped significantly. GAAP earnings per share increased.

Gross margins contracted, operating margins expanded, net margins increased.

Revenue details
Concho Resources recorded revenue of $477.5 million. The 20 analysts polled by S&P Capital IQ expected net sales of $526.9 million on the same basis. GAAP reported sales were the same as the prior-year quarter's.

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 $0.96. The 28 earnings estimates compiled by S&P Capital IQ predicted $1.00 per share. Non-GAAP EPS of $0.96 for Q4 were 17% lower than the prior-year quarter's $1.15 per share. (The prior-year quarter included -$0.04 per share in earnings from discontinued operations.) GAAP EPS were $0.72 for Q4 versus -$0.81 per share for the prior-year quarter.

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 80.7%, 90 basis points worse than the prior-year quarter. Operating margin was 38.8%, 5,860 basis points better than the prior-year quarter. Net margin was 15.8%, 3,310 basis points better than the prior-year quarter.

Looking ahead
Next quarter's average estimate for revenue is $525.7 million. On the bottom line, the average EPS estimate is $0.96.

Next year's average estimate for revenue is $2.31 billion. The average EPS estimate is $4.49.

Investor sentiment
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 244 members out of 263 rating the stock outperform, and 19 members rating it underperform. Among 53 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 49 give Concho Resources a green thumbs-up, and four give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Concho Resources is outperform, with an average price target of $110.22.

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