TransAtlantic Petroleum Beats on the Top Line
TransAtlantic Petroleum (ASE: TAT) reported earnings on March 16. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended Dec. 31 (Q4), TransAtlantic Petroleum missed estimates on revenue and missed expectations on earnings per share.
Compared to the prior-year quarter, revenue expanded significantly and GAAP loss per share grew.
Gross margin grew, operating margin contracted, and net margin contracted.
TransAtlantic Petroleum reported revenue of $35.8 million. The two analysts polled by S&P Capital IQ looked for revenue of $37.8 million on the same basis. GAAP reported sales were 21% higher than the prior-year quarter's $30.3 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 -$0.14. The two earnings estimates compiled by S&P Capital IQ averaged $0.00 per share on the same basis. GAAP EPS were -$34.14 for Q4 compared to -$0.09 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 82.5%, 4,800 basis points better than the prior-year quarter. Operating margin was -115.3%, 1,140 basis points worse than the prior-year quarter. Net margin was -182.4%, 7,930 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $37.9 million. On the bottom line, the average EPS estimate is -$0.01.
Next year's average estimate for revenue is $166.1 million. The average EPS estimate is $0.01.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 204 members out of 209 rating the stock outperform, and five members rating it underperform. Among 30 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 27 give TransAtlantic Petroleum a green thumbs-up, and three give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on TransAtlantic Petroleum is hold, with an average price target of $3.44.
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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.