The 10-second takeaway
For the quarter ended Dec. 31 (Q4), PDC Energy beat expectations on revenues and missed expectations on earnings per share.
Compared to the prior-year quarter, revenue increased. Non-GAAP loss per share increased. GAAP loss per share increased.
Gross margins increased, operating margins shrank, net margins dropped.
PDC Energy logged revenue of $108.6 million. The eight analysts polled by S&P Capital IQ anticipated revenue of $96.6 million on the same basis. GAAP reported sales were 31% higher than the prior-year quarter's $96.7 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 -$4.25. The 13 earnings estimates compiled by S&P Capital IQ averaged -$0.02 per share. Non-GAAP EPS were -$4.25 for Q4 compared to -$0.25 per share for the prior-year quarter. GAAP EPS were -$4.17 for Q4 compared to -$0.36 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 74.0%, 990 basis points better than the prior-year quarter. Operating margin was -129.7%, much worse than the prior-year quarter. Net margin was -99.5%, much worse than the prior-year quarter.
Next quarter's average estimate for revenue is $99.0 million. On the bottom line, the average EPS estimate is $0.05.
Next year's average estimate for revenue is $435.9 million. The average EPS estimate is $0.69.
The stock has a two-star rating (out of five) at Motley Fool CAPS, with 274 members out of 300 rating the stock outperform, and 26 members rating it underperform. Among 72 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 66 give PDC Energy a green thumbs-up, and six give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on PDC Energy is outperform, with an average price target of $42.29.
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