FX Energy (Nasdaq: FXEN) is expected to report Q1 earnings on May 9. 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 FX Energy's revenues will increase 13.2% and EPS will expand from $0.00 per share the prior year.

The average estimate for revenue is $9.7 million. On the bottom line, the average EPS estimate is -$0.02.

Revenue details
 Last quarter, FX Energy booked revenue of $9.9 million. GAAP reported sales were 10.0% higher than the prior-year quarter's $9.0 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, non-GAAP EPS came in at -$0.11. GAAP EPS were -$0.01 for Q4 against -$0.20 per share for the prior-year quarter.

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 88.3%, much better than the prior-year quarter. Operating margin was -42.5%, much worse than the prior-year quarter. Net margin was -4.4%, much better than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $42.0 million. The average EPS estimate is -$0.02.

Investor sentiment
 The stock has a three-star rating (out of five) at Motley Fool CAPS, with 120 members out of 137 rating the stock outperform, and 17 members rating it underperform. Among 21 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 18 give FX Energy a green thumbs-up, and three give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on FX Energy is buy, with an average price target of $7.90.

Is FX Energy the right energy stock for you? Read about a handful of timely, profit-producing plays on expensive crude in "3 Stocks for $100 Oil." Click here for instant access to this free report.