The 10-second takeaway
For the quarter ended Dec. 31 (Q4), Noble beat slightly on revenues and whiffed on earnings per share.
Compared to the prior-year quarter, revenue expanded significantly. Non-GAAP earnings per share expanded. GAAP earnings per share didn't change.
Gross margins grew, operating margins increased, net margins dropped.
Noble tallied revenue of $966.4 million. The 19 analysts polled by S&P Capital IQ looked for a top line of $954.5 million on the same basis. GAAP reported sales were 28% higher than the prior-year quarter's $735.7 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 $0.51. The 30 earnings estimates compiled by S&P Capital IQ anticipated $0.62 per share. Non-GAAP EPS of $0.51 for Q4 were 2.0% higher than the prior-year quarter's $0.50 per share. GAAP EPS of $0.50 were the same as 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 47.4%, 60 basis points better than the prior-year quarter. Operating margin was 23.2%, 120 basis points better than the prior-year quarter. Net margin was 13.5%, 380 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $1.01 billion. On the bottom line, the average EPS estimate is $0.65.
Next year's average estimate for revenue is $4.42 billion. The average EPS estimate is $3.25.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 2,201 members out of 2,234 rating the stock outperform, and 33 members rating it underperform. Among 520 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 513 give Noble a green thumbs-up, and seven give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Noble is outperform, with an average price target of $47.43.
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