Atwood Oceanics (NYSE: ATW) is expected to report Q2 earnings on May 1. Here's what Wall Street wants to see:

The 10-second takeaway
Comparing the upcoming quarter to the prior-year quarter, average analyst estimates predict Atwood Oceanics's revenues will grow 48.3% and EPS will grow 35.6%.

The average estimate for revenue is $254.6 million. On the bottom line, the average EPS estimate is $1.22.

Revenue details
Last quarter, Atwood Oceanics logged revenue of $245.1 million. GAAP reported sales were 33% higher than the prior-year quarter's $184.7 million.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
Last quarter, EPS came in at $1.10. GAAP EPS of $1.10 for Q1 were 10% higher than the prior-year quarter's $1.00 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Recent performance
For the preceding quarter, gross margin was 54.3%, 330 basis points worse than the prior-year quarter. Operating margin was 36.1%, 550 basis points worse than the prior-year quarter. Net margin was 29.7%, 580 basis points worse than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $1.05 billion. The average EPS estimate is $5.05.

Investor sentiment
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 2,352 members out of 2,376 rating the stock outperform, and 24 members rating it underperform. Among 586 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 580 give Atwood Oceanics 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 Atwood Oceanics is outperform, with an average price target of $55.01.

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