ATP Oil & Gas Beats on Both Top and Bottom Lines

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ATP Oil & Gas (NAS: ATPG) reported earnings on Thursday. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended Dec. 31 (Q4), ATP Oil & Gas beat expectations on revenues and exceeded expectations on earnings per share.

Compared to the prior-year quarter, revenue improved significantly, and GAAP loss per share dropped.

Margins increased across the board.

Revenue details
ATP Oil & Gas notched revenue of $177.7 million. The four analysts polled by S&P Capital IQ hoped for a top line of $171.1 million on the same basis. GAAP reported sales were 25% higher than the prior-year quarter's $141.7 million.

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Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
EPS came in at -$0.56. The three earnings estimates compiled by S&P Capital IQ forecast -$0.62 per share. GAAP EPS were -$0.56 for Q4 compared to -$4.06 per share for the prior-year quarter.

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Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Margin details
For the quarter, gross margin was 88.7%, 1,910 basis points better than the prior-year quarter. Operating margin was 9.9%, 6,100 basis points better than the prior-year quarter. Net margin was -12.5%, 13,130 basis points better than the prior-year quarter.

Looking ahead
Next quarter's average estimate for revenue is $194 million. On the bottom line, the average EPS estimate is -$0.36.

Next year's average estimate for revenue is $896.9 million. The average EPS estimate is -$1.38.

Investor sentiment
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 1,323 members rating the stock outperform and 46 members rating it underperform. Among 376 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 363 give ATP Oil & Gas a green thumbs-up, and 13 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on ATP Oil & Gas is hold, with an average price target of $19.50.

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At the time this article was published 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 ofMotley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. 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.

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