Laredo Petroleum Holdings
The 10-second takeaway
For the quarter ended March 31 (Q1), Laredo Petroleum Holdings missed estimates on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue expanded. Non-GAAP earnings per share dropped significantly. GAAP earnings per share contracted significantly.
Margins dropped across the board.
Laredo Petroleum Holdings reported revenue of $163.7 million. The nine analysts polled by S&P Capital IQ expected a top line of $170.0 million on the same basis. GAAP reported sales were 8.9% higher than the prior-year quarter's $150.3 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 $0.11. The 10 earnings estimates compiled by S&P Capital IQ predicted $0.12 per share. Non-GAAP EPS of $0.11 for Q1 were 52% lower than the prior-year quarter's $0.23 per share. GAAP EPS of $0.01 for Q1 were 95% lower than the prior-year quarter's $0.20 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 79.2%, 470 basis points worse than the prior-year quarter. Operating margin was 27.2%, 1,000 basis points worse than the prior-year quarter. Net margin was 0.9%, much worse than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $182.9 million. On the bottom line, the average EPS estimate is $0.14.
Next year's average estimate for revenue is $751.6 million. The average EPS estimate is $0.61.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 15 members out of 15 rating the stock outperform, and members rating it underperform. Among six CAPS All-Star picks (recommendations by the highest-ranked CAPS members), six give Laredo Petroleum Holdings 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 Laredo Petroleum Holdings is outperform, with an average price target of $24.14.
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