Vantage Drilling Beats on Both Top and Bottom Lines
Vantage Drilling (ASE: VTG) reported earnings on March 15. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended Dec. 31 (Q4), Vantage Drilling beat slightly on revenue and exceeded expectations on earnings per share.
Compared to the prior-year quarter, revenue improved significantly and GAAP loss per share dropped.
Margins improved across the board.
Vantage Drilling reported revenue of $121.3 million. The six analysts polled by S&P Capital IQ predicted a top line of $119.9 million on the same basis. GAAP reported sales were 43% higher than the prior-year quarter's $84.9 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 -$0.03. The seven earnings estimates compiled by S&P Capital IQ predicted -$0.04 per share. GAAP EPS were -$0.03 for Q4 against -$0.05 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 40.5%, 1,520 basis points better than the prior-year quarter. Operating margin was 22.2%, 1,440 basis points better than the prior-year quarter. Net margin was -7.7%, 760 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $128.7 million. On the bottom line, the average EPS estimate is -$0.01.
Next year's average estimate for revenue is $560.4 million. The average EPS estimate is -$0.12.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 183 members out of 194 rating the stock outperform, and 11 members rating it underperform. Among 51 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 46 give Vantage Drilling a green thumbs-up, and five give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Vantage Drilling is outperform, with an average price target of $2.06.
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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.