Noble Energy Outruns Estimates Again

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Noble Energy (NYS: NBL) reported earnings on April 26. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended March 31 (Q1), Noble Energy beat expectations on revenues and crushed expectations on earnings per share.

Compared with the prior-year quarter, revenue grew significantly and GAAP earnings per share grew significantly.


Margins expanded across the board.

Revenue details
Noble Energy logged revenue of $1.17 billion. The 10 analysts polled by S&P Capital IQ hoped for revenue of $1.09 billion on the same basis. GAAP reported sales were 37% higher than the prior-year quarter's $851.0 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 $1.75. The 22 earnings estimates compiled by S&P Capital IQ anticipated $1.40 per share. GAAP EPS of $1.47 for Q1 were much higher than the prior-year quarter's $0.08 per share.

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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 84.6%, 130 basis points better than the prior-year quarter. Operating margin was 43.0%, 4,150 basis points better than the prior-year quarter. Net margin was 22.6%, 2,100 basis points better than the prior-year quarter.

Looking ahead
Next quarter's average estimate for revenue is $1.10 billion. On the bottom line, the average EPS estimate is $1.38.

Next year's average estimate for revenue is $4.73 billion. The average EPS estimate is $6.38.

Investor sentiment
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 387 members out of 402 rating the stock outperform, and 15 members rating it underperform. Among 99 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 95 give Noble Energy a green thumbs-up, and four give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Noble Energy is outperform, with an average price target of $119.68.

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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. He is the 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 don't 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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