Energy XXI (Bermuda) Limited Misses on Both Revenue and Earnings

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Energy XXI (Bermuda) Limited (NAS: EXXI) reported earnings on May 2. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended March 31 (Q3), Energy XXI (Bermuda) Limited missed estimates on revenues and missed estimates on earnings per share.

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


Margins expanded across the board.

Revenue details
Energy XXI (Bermuda) Limited reported revenue of $336.0 million. The seven analysts polled by S&P Capital IQ expected a top line of $346.0 million on the same basis. GAAP reported sales were 30% higher than the prior-year quarter's $258.6 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 $1.04. The 12 earnings estimates compiled by S&P Capital IQ predicted $1.10 per share. GAAP EPS of $1.04 for Q3 were 447% higher than the prior-year quarter's $0.19 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 75.5%, 290 basis points better than the prior-year quarter. Operating margin was 37.7%, 1,290 basis points better than the prior-year quarter. Net margin was 27.2%, 2,010 basis points better than the prior-year quarter.

Looking ahead
Next quarter's average estimate for revenue is $392.0 million. On the bottom line, the average EPS estimate is $1.15.

Next year's average estimate for revenue is $1.36 billion. The average EPS estimate is $3.96.

Investor sentiment
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 189 members out of 201 rating the stock outperform, and 12 members rating it underperform. Among 40 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 39 give Energy XXI (Bermuda) Limited a green thumbs-up, and one gives it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Energy XXI (Bermuda) Limited is outperform, with an average price target of $43.09.

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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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