The 10-second takeaway
For the quarter ended March 31 (Q1), Quicksilver Resources beat expectations on revenues and missed expectations on earnings per share.
Compared to the prior-year quarter, revenue grew slightly. Non-GAAP loss per share dropped. GAAP loss per share was unchanged.
Gross margins shrank, operating margins expanded, net margins dropped.
Quicksilver Resources notched revenue of $149.2 million. The eight analysts polled by S&P Capital IQ hoped for revenue of $144.1 million on the same basis. GAAP reported sales were 36% lower than the prior-year quarter's $184.9 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 -$0.04. The 17 earnings estimates compiled by S&P Capital IQ forecast -$0.01 per share. Non-GAAP EPS were -$0.04 for Q1 against -$0.09 per share for the prior-year quarter. GAAP EPS of -$0.35 were the same as 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 26.9%, much worse than the prior-year quarter. Operating margin was -3.3%, 670 basis points better than the prior-year quarter. Net margin was -50.3%, much worse than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $137.6 million. On the bottom line, the average EPS estimate is -$0.03.
Next year's average estimate for revenue is $550.4 million. The average EPS estimate is -$0.12.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 814 members out of 846 rating the stock outperform, and 32 members rating it underperform. Among 169 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 159 give Quicksilver Resources a green thumbs-up, and 10 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Quicksilver Resources is hold, with an average price target of $3.67.
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Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.