Memorial Production Partners
The 10-second takeaway
For the quarter ended March 31 (Q1), Memorial Production Partners whiffed on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue expanded significantly. Non-GAAP earnings per share contracted significantly. GAAP earnings per share dropped to a loss.
Gross margins increased, operating margins dropped, net margins dropped.
Memorial Production Partners reported revenue of $44.3 million. The six analysts polled by S&P Capital IQ anticipated revenue of $51.4 million on the same basis. GAAP reported sales were much higher than the prior-year quarter's $18.9 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 $0.36. The 10 earnings estimates compiled by S&P Capital IQ predicted $0.45 per share. Non-GAAP EPS of $0.36 for Q1 were 62% lower than the prior-year quarter's $0.95 per share. GAAP EPS were -$0.14 for Q1 compared to $0.94 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 64.2%, 600 basis points better than the prior-year quarter. Operating margin was -2.7%, much worse than the prior-year quarter. Net margin was -11.3%, much worse than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $57.7 million. On the bottom line, the average EPS estimate is $0.46.
Next year's average estimate for revenue is $237.4 million. The average EPS estimate is $1.91.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 23 members out of 24 rating the stock outperform, and one members rating it underperform. Among six CAPS All-Star picks (recommendations by the highest-ranked CAPS members), six give Memorial Production Partners a green thumbs-up, and give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Memorial Production Partners is outperform, with an average price target of $21.79.
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