ATP Oil & Gas Whiffs on Revenues
ATP Oil & Gas (NAS: ATPG) reported earnings on May 10. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended March 31 (Q1), ATP Oil & Gas whiffed on revenues and missed expectations on earnings per share.
Compared with he prior-year quarter, revenue contracted and GAAP loss per share grew.
Gross margins grew, operating margins improved, net margins dropped.
ATP Oil & Gas chalked up revenue of $146.6 million. The two analysts polled by S&P Capital IQ expected to see a top line of $178.4 million on the same basis. GAAP reported sales were 12% lower than the prior-year quarter's $166.5 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 -$1.98. The two earnings estimates compiled by S&P Capital IQ anticipated -$0.31 per share. GAAP EPS were -$2.83 for Q1 compared to -$2.34 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 81.6%, 110 basis points better than the prior-year quarter. Operating margin was 8.1%, 1,420 basis points better than the prior-year quarter. Net margin was -94.7%, 2,460 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $210.7 million. On the bottom line, the average EPS estimate is -$0.30.
Next year's average estimate for revenue is $868.8 million. The average EPS estimate is -$0.86.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 1,316 members out of 1,361 rating the stock outperform, and 45 members rating it underperform. Among 321 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 308 give ATP Oil & Gas a green thumbs-up, and 13 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on ATP Oil & Gas is hold, with an average price target of $9.83.
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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. He is the 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 don't 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.
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