Vantage Drilling (AMEX: VTG) reported earnings on May 10. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended March 31 (Q1), Vantage Drilling met expectations on revenues and missed expectations on earnings per share.
Compared to the prior-year quarter, revenue grew. Non-GAAP earnings per share. GAAP earnings per share.
Gross margins increased, operating margins dropped, net margins dropped.
Vantage Drilling chalked up revenue of $147.0 million. The seven analysts polled by S&P Capital IQ expected to see revenue of $147.1 million on the same basis. GAAP reported sales were 28% higher than the prior-year quarter's $107.7 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 -$0.08. The eight earnings estimates compiled by S&P Capital IQ averaged -$0.05 per share. Non-GAAP EPS were -$0.08 for Q1 versus $0.00 per share for the prior-year quarter. GAAP EPS were -$0.41 for Q1 against $0.00 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 45.4%, 980 basis points better than the prior-year quarter. Operating margin was 28.6%, 920 basis points worse than the prior-year quarter. Net margin was -89.4%, much worse than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $158.7 million. On the bottom line, the average EPS estimate is $0.02.
Next year's average estimate for revenue is $674.8 million. The average EPS estimate is $0.08.
The stock has a two-star rating (out of five) at Motley Fool CAPS, with 181 members out of 194 rating the stock outperform, and 13 members rating it underperform. Among 38 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 32 give Vantage Drilling a green thumbs-up, and six give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Vantage Drilling is outperform, with an average price target of $2.58.
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