The 10-second takeaway
For the quarter ended June 30 (Q3), Atwood Oceanics met expectations on revenues and beat slightly on earnings per share.
Compared to the prior-year quarter, revenue expanded significantly. GAAP earnings per share grew significantly.
Margins expanded across the board.
Atwood Oceanics reported revenue of $272.7 million. The 10 analysts polled by S&P Capital IQ looked for revenue of $271.5 million on the same basis. GAAP reported sales were 53% higher than the prior-year quarter's $178.6 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures are normalized by S&P Capital IQ and may vary to maintain comparability with normalized estimates.
EPS came in at $1.37. The 15 earnings estimates compiled by S&P Capital IQ averaged $1.35 per share. GAAP EPS of $1.37 for Q3 were 73% higher than the prior-year quarter's $0.79 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures are normalized by S&P Capital IQ and may vary to maintain comparability with normalized estimates.
For the quarter, gross margin was 56.7%, 560 basis points better than the prior-year quarter. Operating margin was 40.6%, 510 basis points better than the prior-year quarter. Net margin was 33.0%, 400 basis points better than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $284.9 million. On the bottom line, the average EPS estimate is $1.46.
Next year's average estimate for revenue is $1.05 billion. The average EPS estimate is $5.18.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 2,372 members out of 2,395 rating the stock outperform, and 23 members rating it underperform. Among 621 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 615 give Atwood Oceanics 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 Atwood Oceanics is outperform, with an average price target of $60.44.
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