The 10-second takeaway
For the quarter ended March 31 (Q1), Golar LNG whiffed on revenues and crushed expectations on earnings per share.
Compared to the prior-year quarter, revenue dropped significantly. GAAP earnings per share expanded significantly.
Gross margins grew, operating margins dropped, net margins expanded.
Golar LNG notched revenue of $35.1 million. The nine analysts polled by S&P Capital IQ expected to see sales of $98.8 million on the same basis. GAAP reported sales were 58% lower than the prior-year quarter's $83.1 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 $1.06. The 10 earnings estimates compiled by S&P Capital IQ forecast $0.30 per share. GAAP EPS of $1.06 for Q1 were 458% higher than the prior-year quarter's $0.19 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 67.8%, 230 basis points better than the prior-year quarter. Operating margin was 30.5%, 300 basis points worse than the prior-year quarter. Net margin was 243.7%, much better than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $100.1 million. On the bottom line, the average EPS estimate is $0.31.
Next year's average estimate for revenue is $432.8 million. The average EPS estimate is $1.53.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 555 members out of 576 rating the stock outperform, and 21 members rating it underperform. Among 124 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 117 give Golar LNG a green thumbs-up, and seven give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Golar LNG is outperform, with an average price target of $44.58.
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