TransAtlantic Petroleum (AMEX: TAT) reported earnings on May 23. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended March 31 (Q1), TransAtlantic Petroleum beat expectations on revenues and met expectations on earnings per share.
Compared to the prior-year quarter, revenue grew slightly. GAAP earnings per share grew.
Gross margins dropped, operating margins expanded, net margins grew.
TransAtlantic Petroleum reported revenue of $36.1 million. The one analyst polled by S&P Capital IQ expected revenue of $35.0 million on the same basis. GAAP reported sales were 5.3% lower than the prior-year quarter's $37.5 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 $0.01. The two earnings estimates compiled by S&P Capital IQ forecast $0.01 per share. GAAP EPS were $0.01 for Q1 against -$0.01 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 78.3%, 740 basis points worse than the prior-year quarter. Operating margin was 17.7%, much better than the prior-year quarter. Net margin was 8.3%, much better than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $33.7 million. On the bottom line, the average EPS estimate is $0.00.
Next year's average estimate for revenue is $140.9 million. The average EPS estimate is $0.01.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 194 members out of 203 rating the stock outperform, and nine members rating it underperform. Among 19 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 16 give TransAtlantic Petroleum a green thumbs-up, and three give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on TransAtlantic Petroleum is hold, with an average price target of $1.03.
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