Hornbeck Offshore Services Increases Sales but Misses Estimates on Earnings
Hornbeck Offshore Services (NYS: HOS) reported earnings on May 3. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended March 31 (Q1), Hornbeck Offshore Services met expectations on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue expanded significantly and GAAP earnings per share improved.
Margins grew across the board.
Hornbeck Offshore Services notched revenue of $120.0 million. The 10 analysts polled by S&P Capital IQ expected revenue of $119.3 million on the same basis. GAAP reported sales were 66% higher than the prior-year quarter's $72.3 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 $0.27. The 12 earnings estimates compiled by S&P Capital IQ predicted $0.30 per share. GAAP EPS were $0.18 for Q1 against -$0.34 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 50.6%, 820 basis points better than the prior-year quarter. Operating margin was 23.9%, 2,370 basis points better than the prior-year quarter. Net margin was 5.3%, 1,780 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $131.4 million. On the bottom line, the average EPS estimate is $0.45.
Next year's average estimate for revenue is $533.8 million. The average EPS estimate is $1.88.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 387 members out of 399 rating the stock outperform, and 12 members rating it underperform. Among 106 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 104 give Hornbeck Offshore Services 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 Hornbeck Offshore Services is outperform, with an average price target of $46.70.
Over the decades, small-cap stocks like Hornbeck Offshore Services have produced market-beating returns, provided they're value-priced and have solid businesses. Read about a pair of companies with a lock on their markets in "Too Small to Fail: 2 Small Caps the Government Won't Let Go Broke." Click here for instant access to this free report.
- Add Hornbeck Offshore Services to My Watchlist.
At the time this article was published Seth Jayson owned shares of the following at the time of publication: Hornbeck Offshore Services. 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.
Copyright © 1995 - 2012 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.