Vaalco Energy Meets on the Top Line, Misses Where it Counts
Vaalco Energy (NYS: EGY) reported earnings on May 8. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended March 31 (Q1), Vaalco Energy met expectations on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue shrank and GAAP earnings per share shrank significantly.
Margins contracted across the board.
Vaalco Energy recorded revenue of $45.3 million. The one analyst polled by S&P Capital IQ expected revenue of $45.0 million on the same basis. GAAP reported sales were 3.2% lower than the prior-year quarter's $46.8 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 $0.15. The one earnings estimate compiled by S&P Capital IQ forecast $0.21 per share. GAAP EPS of $0.15 for Q1 were 21% lower than the prior-year quarter's $0.19 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 87.8%, 100 basis points worse than the prior-year quarter. Operating margin was 66.5%, 50 basis points worse than the prior-year quarter. Net margin was 19.9%, 410 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $43.7 million. On the bottom line, the average EPS estimate is $0.16.
Next year's average estimate for revenue is $210.0 million. The average EPS estimate is $0.91.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 1,514 members out of 1,561 rating the stock outperform, and 47 members rating it underperform. Among 302 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 296 give Vaalco Energy a green thumbs-up, and six give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Vaalco Energy is hold, with an average price target of $7.50.
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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.