The 10-second takeaway
For the quarter ended March 31 (Q1), Hercules Offshore beat expectations on revenues and exceeded expectations on earnings per share.
Compared to the prior-year quarter, revenue grew significantly. Non-GAAP loss per share shrank. GAAP earnings per share grew.
Margins expanded across the board.
Hercules Offshore notched revenue of $205.3 million. The 13 analysts polled by S&P Capital IQ expected a top line of $201.2 million on the same basis. GAAP reported sales were 43% higher than the prior-year quarter's $143.3 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 -$0.02. The 21 earnings estimates compiled by S&P Capital IQ forecast -$0.03 per share. Non-GAAP EPS were -$0.02 for Q1 compared to -$0.28 per share for the prior-year quarter. GAAP EPS were $0.22 for Q1 compared to -$0.28 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 36.4%, much better than the prior-year quarter. Operating margin was 6.9%, much better than the prior-year quarter. Net margin was 17.1%, much better than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $238.0 million. On the bottom line, the average EPS estimate is $0.07.
Next year's average estimate for revenue is $945.7 million. The average EPS estimate is $0.26.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 1,550 members out of 1,613 rating the stock outperform, and 63 members rating it underperform. Among 336 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 325 give Hercules Offshore a green thumbs-up, and 11 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Hercules Offshore is outperform, with an average price target of $8.40.
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