PetroQuest Energy Goes Red

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PetroQuest Energy (NYS: PQ) reported earnings on May 3. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended March 31 (Q1), PetroQuest Energy beat slightly on revenues and missed estimates on earnings per share.

Compared to the prior-year quarter, revenue contracted and GAAP earnings per share dropped to a loss.


Margins shrank across the board.

Revenue details
PetroQuest Energy recorded revenue of $36.0 million. The five analysts polled by S&P Capital IQ wanted to see net sales of $35.3 million on the same basis. GAAP reported sales were 13% lower than the prior-year quarter's $41.6 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 $0.01. The eight earnings estimates compiled by S&P Capital IQ forecast $0.02 per share. GAAP EPS were -$0.30 for Q1 versus $0.03 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 70.0%, 440 basis points worse than the prior-year quarter. Operating margin was -44.9%, 7,310 basis points worse than the prior-year quarter. Net margin was -48.1%, 5,570 basis points worse than the prior-year quarter.

Looking ahead
Next quarter's average estimate for revenue is $38.7 million. On the bottom line, the average EPS estimate is $0.02.

Next year's average estimate for revenue is $158.7 million. The average EPS estimate is $0.01.

Investor sentiment
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 450 members out of 469 rating the stock outperform, and 19 members rating it underperform. Among 99 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 93 give PetroQuest Energy 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 PetroQuest Energy is outperform, with an average price target of $9.50.

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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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