Panhandle Oil and Gas Whiffs on Revenues

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Panhandle Oil and Gas (NYS: PHX) reported earnings on May 7. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended March 31 (Q2), Panhandle Oil and Gas whiffed on revenues and missed estimates on earnings per share.

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


Margins dropped across the board.

Revenue details
Panhandle Oil and Gas notched revenue of $10.4 million. The one analyst polled by S&P Capital IQ expected a top line of $12.0 million on the same basis. GAAP reported sales were 4.6% lower than the prior-year quarter's $10.9 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 $0.08. The one earnings estimate compiled by S&P Capital IQ forecast $0.34 per share. GAAP EPS of $0.08 for Q2 were 62% lower than the prior-year quarter's $0.21 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 77.0%, 10 basis points worse than the prior-year quarter. Operating margin was 11.8%, 850 basis points worse than the prior-year quarter. Net margin was 6.5%, 970 basis points worse than the prior-year quarter.

Looking ahead
Next quarter's average estimate for revenue is $12.6 million. On the bottom line, the average EPS estimate is $0.38.

Next year's average estimate for revenue is $51.1 million. The average EPS estimate is $1.60.

Investor sentiment
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 228 members out of 235 rating the stock outperform, and seven members rating it underperform. Among 46 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 44 give Panhandle Oil and Gas a green thumbs-up, and two give it a red thumbs-down.

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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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