The 10-second takeaway
For the quarter ended March 31 (Q1), Gulfport Energy missed estimates on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue contracted significantly. Non-GAAP earnings per share dropped significantly. GAAP earnings per share grew significantly.
Gross margins shrank, operating margins dropped, net margins grew.
Gulfport Energy booked revenue of $54.9 million. The 10 analysts polled by S&P Capital IQ expected revenue of $58.7 million on the same basis. GAAP reported sales were 16% lower than the prior-year quarter's $65.5 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 $0.10. The 15 earnings estimates compiled by S&P Capital IQ forecast $0.14 per share. Non-GAAP EPS of $0.10 for Q1 were 79% lower than the prior-year quarter's $0.48 per share. GAAP EPS of $0.61 for Q1 were 27% higher than the prior-year quarter's $0.48 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 77.3%, 190 basis points worse than the prior-year quarter. Operating margin was 27.9%, much worse than the prior-year quarter. Net margin was 81.0%, much better than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $97.8 million. On the bottom line, the average EPS estimate is $0.20.
Next year's average estimate for revenue is $502.7 million. The average EPS estimate is $0.91.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Gulfport Energy is buy, with an average price target of $55.27.
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