The 10-second takeaway
For the quarter ended March 31 (Q1), Matador Resources missed slightly on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue expanded significantly. Non-GAAP earnings per share expanded significantly. GAAP earnings per share contracted to a loss.
Margins shrank across the board.
Matador Resources chalked up revenue of $54.9 million. The six analysts polled by S&P Capital IQ anticipated sales of $55.8 million on the same basis. GAAP reported sales were 88% higher than the prior-year quarter's $29.2 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 $0.19. The 11 earnings estimates compiled by S&P Capital IQ anticipated $0.10 per share. Non-GAAP EPS of $0.19 for Q1 were 73% higher than the prior-year quarter's $0.11 per share. GAAP EPS were -$0.28 for Q1 versus $0.08 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 72.7%, 400 basis points worse than the prior-year quarter. Operating margin was -26.0%, much worse than the prior-year quarter. Net margin was -28.2%, much worse than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $55.6 million. On the bottom line, the average EPS estimate is $0.10.
Next year's average estimate for revenue is $235.0 million. The average EPS estimate is $0.51.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Matador Resources is outperform, with an average price target of $12.13.
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