The 10-second takeaway
For the quarter ended March 31 (Q1), Cimarex Energy met expectations on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue expanded slightly. Non-GAAP earnings per share shrank significantly. GAAP earnings per share contracted significantly.
Margins dropped across the board.
Cimarex Energy chalked up revenue of $426.4 million. The 12 analysts polled by S&P Capital IQ expected a top line of $429.4 million on the same basis. GAAP reported sales were the same as the prior-year quarter's.
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 $1.06. The 22 earnings estimates compiled by S&P Capital IQ anticipated $1.09 per share. Non-GAAP EPS of $1.06 for Q1 were 16% lower than the prior-year quarter's $1.26 per share. GAAP EPS of $1.04 for Q1 were 15% lower than the prior-year quarter's $1.23 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 77.9%, 180 basis points worse than the prior-year quarter. Operating margin was 33.9%, 620 basis points worse than the prior-year quarter. Net margin was 21.1%, 400 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $456.8 million. On the bottom line, the average EPS estimate is $1.19.
Next year's average estimate for revenue is $1.91 billion. The average EPS estimate is $5.03.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 513 members out of 535 rating the stock outperform, and 22 members rating it underperform. Among 105 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 99 give Cimarex Energy 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 Cimarex Energy is outperform, with an average price target of $83.05.
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