Pioneer Drilling Beats Up on Analysts Yet Again
Pioneer Drilling (ASE: PDC) reported earnings on Feb. 21. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended Dec. 31 (Q4), Pioneer Drilling beat slightly on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue grew significantly, and GAAP earnings per share improved.
Margins improved across the board.
Pioneer Drilling recorded revenue of $187.7 million. The seven analysts polled by S&P Capital IQ expected revenue of $185.5 million on the same basis. GAAP reported sales were 37% higher than the prior-year quarter's $148.6 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 $0.11. The eight earnings estimates compiled by S&P Capital IQ predicted $0.10 per share. GAAP EPS were $0.11 for Q3 against -$0.11 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 36.9%, 40 basis points better than the prior-year quarter. Operating margin was 10.0%, 540 basis points better than the prior-year quarter. Net margin was 3.3%, 730 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $195.8 million. On the bottom line, the average EPS estimate is $0.12.
Next year's average estimate for revenue is $704.5 million. The average EPS estimate is $0.33.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 602 members rating the stock outperform and 27 members rating it underperform. Among 145 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 138 give Pioneer Drilling a green thumbs-up, and seven give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Pioneer Drilling is outperform, with an average price target of $13.22.
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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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