Abraxas Petroleum Increases Sales but Misses Estimates on Earnings
Abraxas Petroleum (NAS: AXAS) reported earnings on May 9. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended March 31 (Q1), Abraxas Petroleum whiffed on revenues and missed estimates on earnings per share.
Compared with the prior-year quarter, revenue increased significantly and GAAP earnings per share grew.
Gross margins dropped, operating margins expanded, net margins grew.
Abraxas Petroleum recorded revenue of $16.4 million. The seven analysts polled by S&P Capital IQ predicted net sales of $18.5 million on the same basis. GAAP reported sales were 17% higher than the prior-year quarter's $14.0 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 $0.02. The five earnings estimates compiled by S&P Capital IQ averaged $0.06 per share. GAAP EPS were $0.01 for Q1 versus -$0.12 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 54.7%, 640 basis points worse than the prior-year quarter. Operating margin was 13.6%, 7,480 basis points better than the prior-year quarter. Net margin was 5.0%, 7,630 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $18.3 million. On the bottom line, the average EPS estimate is $0.02.
Next year's average estimate for revenue is $80.4 million. The average EPS estimate is $0.10.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 736 members out of 763 rating the stock outperform, and 29 members rating it underperform. Among 108 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 102 give Abraxas Petroleum 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 Abraxas Petroleum is buy, with an average price target of $5.43.
Is Abraxas Petroleum the right energy stock for you? Read about a handful of timely, profit-producing plays on expensive crude in "3 Stocks for $100 Oil." Get instant access to this free report.
- Add Abraxas Petroleum 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. 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.
Copyright © 1995 - 2012 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.