Gulfmark Offshore Misses on Revenues but Beats on EPS

Seth Jayson, The Motley Fool
Updated

Gulfmark Offshore (NYS: GLF) reported earnings on Feb. 22. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended Dec. 31 (Q4), Gulfmark Offshore missed estimates on revenues and beat expectations on earnings per share.

Compared to the prior-year quarter, revenue improved and GAAP earnings per share grew significantly.

Margins improved across the board.

Revenue details
Gulfmark Offshore reported revenue of $99.9 million. The six analysts polled by S&P Capital IQ expected to see net sales of $103.6 million on the same basis. GAAP reported sales were 14% higher than the prior-year quarter's $87.9 million.

anImage
anImage

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

EPS details
EPS came in at $0.90. The six earnings estimates compiled by S&P Capital IQ predicted $0.81 per share. GAAP EPS of $0.90 for Q4 were 53% higher than the prior-year quarter's $0.59 per share.

anImage
anImage

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

Margin details
For the quarter, gross margin was 56.7%, 790 basis points better than the prior-year quarter. Operating margin was 30.3%, 1,010 basis points better than the prior-year quarter. Net margin was 23.7%, 640 basis points better than the prior-year quarter.

Looking ahead
Next quarter's average estimate for revenue is $103.9 million. On the bottom line, the average EPS estimate is $0.67.

Next year's average estimate for revenue is $447.0 million. The average EPS estimate is $3.74.

Investor sentiment
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 441 members out of 447 rating the stock outperform, and six members rating it underperform. Among 138 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 136 give Gulfmark Offshore a green thumbs-up, and two give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Gulfmark Offshore is outperform, with an average price target of $52.67.

Are you missing a big story in the energy space? Read about "One Stock to Own Before Nat Gas Act 2011 Becomes Law." Click here for instant access to this free report.

At the time thisarticle 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 Gulfmark Offshore. 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.

Copyright © 1995 - 2012 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

Advertisement