Coming Soon: McMoRan Exploration Earnings

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McMoRan Exploration (NYS: MMR) is expected to report Q3 earnings around Oct. 19. Here's what Wall Street wants to see:

The 10-second takeaway
Comparing the upcoming quarter to the prior-year quarter, average analyst estimates predict McMoRan Exploration's revenues will drop -37.0% and EPS will remain in the red.

The average estimate for revenue is $87.0 million. On the bottom line, the average EPS estimate is -$0.14.


Revenue details
Last quarter, McMoRan Exploration reported revenue of $90.3 million. GAAP reported sales were 43% lower than the prior-year quarter's $158.3 million.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
Last quarter, non-GAAP EPS came in at -$0.46. GAAP EPS were -$0.47 for Q2 versus -$0.32 per share for the prior-year quarter.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Recent performance
For the preceding quarter, gross margin was 64.4%, 280 basis points worse than the prior-year quarter. Operating margin was -71.3%, 4,080 basis points worse than the prior-year quarter. Net margin was -72.2%, 4,700 basis points worse than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $370.4 million. The average EPS estimate is -$0.52.

Investor sentiment
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 510 members out of 529 rating the stock outperform, and 19 members rating it underperform. Among 119 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 113 give McMoRan Exploration 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 McMoRan Exploration is outperform, with an average price target of $13.44.

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The article Coming Soon: McMoRan Exploration Earnings originally appeared on Fool.com.

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. The Motley Fool has no positions in the stocks mentioned above. 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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