The 10-second takeaway
For the quarter ended March 31 (Q1), Penn Virginia beat slightly on revenues and exceeded expectations on earnings per share.
Compared to the prior-year quarter, revenue contracted slightly. Non-GAAP loss per share grew. GAAP loss per share grew.
Gross margins contracted, operating margins grew, net margins dropped.
Penn Virginia reported revenue of $83.2 million. The 11 analysts polled by S&P Capital IQ wanted to see sales of $82.1 million on the same basis. GAAP reported sales were the same as the prior-year quarter's.
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 15 earnings estimates compiled by S&P Capital IQ predicted -$0.23 per share. Non-GAAP EPS were -$0.19 for Q1 compared to -$0.15 per share for the prior-year quarter. GAAP EPS were -$0.33 for Q1 against -$0.26 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 79.2%, 60 basis points worse than the prior-year quarter. Operating margin was -3.6%, 100 basis points better than the prior-year quarter. Net margin was -19.7%, 550 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $105.1 million. On the bottom line, the average EPS estimate is -$0.18.
Next year's average estimate for revenue is $449.6 million. The average EPS estimate is -$0.62.
The stock has a one-star rating (out of five) at Motley Fool CAPS, with 194 members out of 250 rating the stock outperform, and 56 members rating it underperform. Among 57 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 48 give Penn Virginia a green thumbs-up, and nine give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Penn Virginia is outperform, with an average price target of $6.61.
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