The 10-second takeaway
For the quarter ended June 30 (Q2), Statoil ASA missed estimates on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue shrank significantly. GAAP earnings per share shrank significantly.
Margins dropped across the board.
Statoil ASA notched revenue of $24.33 billion. The 10 analysts polled by S&P Capital IQ anticipated revenue of $26.08 billion on the same basis. GAAP reported sales were 22% lower than the prior-year quarter's $31.32 billion.
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 $0.22. The two earnings estimates compiled by S&P Capital IQ predicted $0.67 per share. GAAP EPS of $0.22 for Q2 were 84% lower than the prior-year quarter's $1.39 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 38.4%, 10 basis points worse than the prior-year quarter. Operating margin was 23.1%, 250 basis points worse than the prior-year quarter. Net margin was 2.9%, much worse than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $26.97 billion. On the bottom line, the average EPS estimate is $0.53.
Next year's average estimate for revenue is $108.26 billion. The average EPS estimate is $2.66.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 1,151 members out of 1,182 rating the stock outperform, and 31 members rating it underperform. Among 215 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 209 give Statoil ASA 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 Statoil ASA is outperform, with an average price target of $26.34.
Is Statoil ASA the right energy stock for you? Read about a handful of timely, profit-producing plays on expensive crude in "3 Stocks for $100 Oil." Click here for instant access to this free report.
- Add Statoil ASA to My Watchlist.
Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. The Motley Fool recommends Statoil (ADR). Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.