Atwood Oceanics
The 10-second takeaway
For the quarter ended March 31 (Q2), Atwood Oceanics met expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue expanded significantly. GAAP earnings per share expanded significantly.
Gross margins grew, operating margins grew, net margins contracted.
Revenue details
Atwood Oceanics chalked up revenue of $253.2 million. The 12 analysts polled by S&P Capital IQ predicted a top line of $254.6 million on the same basis. GAAP reported sales were 48% higher than the prior-year quarter's $171.6 million.
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 $1.28. The 17 earnings estimates compiled by S&P Capital IQ anticipated $1.22 per share. GAAP EPS of $1.28 for Q2 were 42% higher than the prior-year quarter's $0.90 per share.
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 57.5%, 370 basis points better than the prior-year quarter. Operating margin was 41.1%, 350 basis points better than the prior-year quarter. Net margin was 33.8%, 80 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)
Looking ahead
Next quarter's average estimate for revenue is $267.4 million. On the bottom line, the average EPS estimate is $1.33.
Next 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 2,354 members out of 2,378 rating the stock outperform, and 24 members rating it underperform. Among 593 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 587 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 $58.47.
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