The 10-second takeaway
For the quarter ended March 31 (Q1), Warren Resources met expectations on revenues and met expectations on earnings per share.
Compared to the prior-year quarter, revenue grew. Non-GAAP earnings per share didn't move. GAAP earnings per share contracted.
Gross margins dropped, operating margins expanded, net margins shrank.
Warren Resources booked revenue of $30.8 million. The three analysts polled by S&P Capital IQ expected revenue of $31.0 million on the same basis. GAAP reported sales were 8.7% higher than the prior-year quarter's $28.4 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 $0.06. The four earnings estimates compiled by S&P Capital IQ predicted $0.06 per share. Non-GAAP EPS of $0.06 were the same as the prior-year quarter. GAAP EPS of $0.04 for Q1 were 20% lower than the prior-year quarter's $0.05 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 68.2%, 180 basis points worse than the prior-year quarter. Operating margin was 16.7%, 60 basis points better than the prior-year quarter. Net margin was 9.2%, 420 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $32.9 million. On the bottom line, the average EPS estimate is $0.08.
Next year's average estimate for revenue is $137.8 million. The average EPS estimate is $0.35.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 321 members out of 336 rating the stock outperform, and 15 members rating it underperform. Among 73 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 71 give Warren Resources a green thumbs-up, and two give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Warren Resources is outperform, with an average price target of $4.75.
Is Warren Resources the right energy stock for you? Read about a handful of timely, profit-producing plays on expensive crude in "3 Stocks for $100 Oil." Click here for instant access to this free report.
- Add Warren Resources to My Watchlist.