The 10-second takeaway
For the quarter ended March 31 (Q1), Resolute Energy beat expectations on revenues and missed expectations on earnings per share.
Compared to the prior-year quarter, revenue increased significantly. GAAP loss per share increased.
Gross margins shrank, operating margins grew, net margins contracted.
Resolute Energy notched revenue of $78.9 million. The four analysts polled by S&P Capital IQ wanted to see revenue of $77.1 million on the same basis. GAAP reported sales were 24% higher than the prior-year quarter's $63.5 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 six earnings estimates compiled by S&P Capital IQ forecast $0.01 per share. GAAP EPS were -$0.05 for Q1 versus -$0.01 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 55.1%, 180 basis points worse than the prior-year quarter. Operating margin was 12.7%, much better than the prior-year quarter. Net margin was -3.9%, 270 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $89.7 million. On the bottom line, the average EPS estimate is $0.05.
Next year's average estimate for revenue is $356.7 million. The average EPS estimate is $0.23.
The stock has a two-star rating (out of five) at Motley Fool CAPS, with 30 members out of 39 rating the stock outperform, and nine members rating it underperform. Among 11 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), seven give Resolute Energy a green thumbs-up, and four give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Resolute Energy is outperform, with an average price target of $13.29.
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