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.
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