The 10-second takeaway
For the quarter ended March 31 (Q1), Halcón Resources met expectations on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue expanded significantly. Non-GAAP earnings per share increased. GAAP earnings per share grew.
Margins expanded across the board.
Halcón Resources recorded revenue of $190.7 million. The 10 analysts polled by S&P Capital IQ expected to see sales of $191.6 million on the same basis. GAAP reported sales were much higher than the prior-year quarter's $26.9 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 $0.05. The 18 earnings estimates compiled by S&P Capital IQ predicted $0.06 per share. Non-GAAP EPS were $0.05 for Q1 against -$0.04 per share for the prior-year quarter. GAAP EPS were $0.01 for Q1 versus -$0.50 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 85.8%, much better than the prior-year quarter. Operating margin was 17.2%, much better than the prior-year quarter. Net margin was 2.9%, much better than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $210.9 million. On the bottom line, the average EPS estimate is $0.08.
Next year's average estimate for revenue is $1.10 billion. The average EPS estimate is $0.31.
The stock has a two-star rating (out of five) at Motley Fool CAPS, with 292 members out of 308 rating the stock outperform, and 16 members rating it underperform. Among 53 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 47 give Halcón Resources 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 Halcón Resources is outperform, with an average price target of $10.63.
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