The 10-second takeaway
For the quarter ended March 31 (Q1), QR Energy missed estimates on revenues and crushed expectations on earnings per share.
Compared to the prior-year quarter, revenue increased significantly. Non-GAAP earnings per share dropped significantly. GAAP loss per share contracted.
Gross margins shrank, operating margins grew, net margins increased.
QR Energy reported revenue of $104.9 million. The 11 analysts polled by S&P Capital IQ predicted revenue of $109.4 million on the same basis. GAAP reported sales were 59% higher than the prior-year quarter's $65.8 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 $0.80. The 12 earnings estimates compiled by S&P Capital IQ forecast $0.27 per share. Non-GAAP EPS of $0.80 for Q1 were 23% lower than the prior-year quarter's $1.04 per share. GAAP EPS were -$0.33 for Q1 versus -$0.49 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 59.2%, 580 basis points worse than the prior-year quarter. Operating margin was 3.3%, 290 basis points better than the prior-year quarter. Net margin was -7.8%, 320 basis points better than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $115.9 million. On the bottom line, the average EPS estimate is $0.29.
Next year's average estimate for revenue is $482.2 million. The average EPS estimate is $1.20.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 104 members out of 107 rating the stock outperform, and three members rating it underperform. Among 38 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 38 give QR Energy 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 QR Energy is outperform, with an average price target of $20.57.
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