The 10-second takeaway
For the quarter ended March 31 (Q1), Stone Energy beat expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue dropped. Non-GAAP earnings per share dropped significantly. GAAP earnings per share shrank significantly.
Margins shrank across the board.
Stone Energy booked revenue of $233.7 million. The five analysts polled by S&P Capital IQ expected a top line of $223.5 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 $0.82. The 10 earnings estimates compiled by S&P Capital IQ averaged $0.71 per share. Non-GAAP EPS of $0.82 for Q1 were 20% lower than the prior-year quarter's $1.03 per share. GAAP EPS of $0.84 for Q1 were 18% lower than the prior-year quarter's $1.03 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 74.1%, 480 basis points worse than the prior-year quarter. Operating margin was 31.2%, 400 basis points worse than the prior-year quarter. Net margin was 17.4%, 350 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $229.1 million. On the bottom line, the average EPS estimate is $0.69.
Next year's average estimate for revenue is $905.8 million. The average EPS estimate is $2.69.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 426 members out of 449 rating the stock outperform, and 23 members rating it underperform. Among 97 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 91 give Stone 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 Stone Energy is outperform, with an average price target of $32.11.
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