The Gory Details on Hercules Offshore's Double Miss
Hercules Offshore (NAS: HERO) reported earnings on April 26. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended March 31 (Q1), Hercules Offshore missed estimates on revenues and missed expectations on earnings per share.
Compared to the prior-year quarter, revenue dropped and GAAP loss per share expanded.
Margins contracted across the board.
Hercules Offshore reported revenue of $143.3 million. The 13 analysts polled by S&P Capital IQ expected revenue of $146.9 million on the same basis. GAAP reported sales were 10% lower than the prior-year quarter's $159.4 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 -$0.28. The 18 earnings estimates compiled by S&P Capital IQ averaged -$0.25 per share. GAAP EPS were -$0.28 for Q1 against -$0.13 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 22.4%, 1,090 basis points worse than the prior-year quarter. Operating margin was -19.9%, 1,890 basis points worse than the prior-year quarter. Net margin was -26.8%, 1,790 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $179.2 million. On the bottom line, the average EPS estimate is -$0.08.
Next year's average estimate for revenue is $731.1 million. The average EPS estimate is -$0.35.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 1,579 members out of 1,651 rating the stock outperform, and 72 members rating it underperform. Among 386 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 374 give Hercules Offshore a green thumbs-up, and 12 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Hercules Offshore is outperform, with an average price target of $6.05.
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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.