The Gory Details on Swift Energy's Double Fumble
Swift Energy (NYS: SFY) reported earnings on May 3. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended March 31 (Q1), Swift Energy missed estimates on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue shrank and GAAP earnings per share dropped significantly.
Margins dropped across the board.
Swift Energy booked revenue of $135.9 million. The five analysts polled by S&P Capital IQ anticipated sales of $138.8 million on the same basis. GAAP reported sales were 5.8% lower than the prior-year quarter's $144.2 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.08. The 12 earnings estimates compiled by S&P Capital IQ predicted $0.23 per share. GAAP EPS of $0.08 for Q1 were 83% lower than the prior-year quarter's $0.47 per share. (The prior-year quarter included $0.00 per share in earnings from discontinued operations.)
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 78.5%, 390 basis points worse than the prior-year quarter. Operating margin was 14.2%, 1,420 basis points worse than the prior-year quarter. Net margin was 2.6%, 1,140 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $143.0 million. On the bottom line, the average EPS estimate is $0.14.
Next year's average estimate for revenue is $626.3 million. The average EPS estimate is $0.92.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 256 members out of 279 rating the stock outperform, and 23 members rating it underperform. Among 57 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 52 give Swift Energy a green thumbs-up, and five give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Swift Energy is outperform, with an average price target of $43.72.
Are you missing a major story in the energy space? Read about "One Stock to Own Before Nat Gas Act 2011 Becomes Law." Click here for instant access to this free report.
- Add Swift Energy to My Watchlist.
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.
Copyright © 1995 - 2012 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.