Contango Oil & Gas Beats Up on Analysts Yet Again
Contango Oil & Gas (ASE: MCF) reported earnings on Feb. 9. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended Dec. 31 (Q2), Contango Oil & Gas crushed expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue expanded and GAAP earnings per share grew significantly.
Gross margins dropped, operating margins expanded, and net margins expanded.
Contango Oil & Gas logged revenue of $53.9 million. The one analyst polled by S&P Capital IQ looked for revenue of $36.7 million on the same basis. GAAP reported sales were 12% higher than the prior-year quarter's $48.2 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
Non-GAAP EPS came in at $1.28. The one earnings estimate compiled by S&P Capital IQ averaged $0.66 per share on the same basis. GAAP EPS of $1.27 for Q2 were 69% higher than the prior-year quarter's $0.75 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 87.0%, 120 basis points worse than the prior-year quarter. Operating margin was 57.6%, 2,500 basis points better than the prior-year quarter. Net margin was 36.1%, 1,170 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $35.1 million. On the bottom line, the average EPS estimate is $0.57.
Next year's average estimate for revenue is $222.7 million. The average EPS estimate is $4.15.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 531 members out of 544 rating the stock outperform, and 13 members rating it underperform. Among 164 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 161 give Contango Oil & Gas a green thumbs-up, and three 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 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 owns shares of Contango Oil & Gas. 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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