McMoRan Exploration Posts a Surprise Profit
McMoRan Exploration (NYS: MMR) reported earnings on Jan. 17. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended Dec. 31 (Q4), McMoRan Exploration beat expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue expanded significantly, and earnings per share improved. The profit was a surprise, as analysts had predicted a loss.
Margins expanded across the board.
McMoRan Exploration logged revenue of $122 million. The three analysts polled by S&P Capital IQ hoped for revenue of $116 million. Sales were 23% higher than the prior-year quarter's $95 million
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions.
EPS came in at $0.16. The six earnings estimates compiled by S&P Capital IQ anticipated -$0.13 per share. GAAP EPS were $0.16 for Q4 versus -$0.83 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Figures may be non-GAAP to maintain comparability with estimates.
For the quarter, gross margin was 62.9%, 290 basis points better than the prior-year quarter. Operating margin was 3.4%, 3,360 basis points better than the prior-year quarter. Net margin was 31.8%, 6,190 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $116 million. On the bottom line, the average EPS estimate is -$0.19.
Next year's average estimate for revenue is $502 million. The average EPS estimate is -$0.66.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 496 members out of 514 rating the stock outperform, and 19 members rating it underperform. Among 139 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 133 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 $17.81.
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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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