Contango Oil & Gas Whiffs on Revenues
Contango Oil & Gas (ASE: MCF) reported earnings on May 9. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended March 31 (Q3), Contango Oil & Gas whiffed on revenues and earnings per share.
Compared with the prior-year quarter, revenue dropped significantly and GAAP earnings per share contracted.
Gross margins shrank, operating margins expanded, net margins increased.
Contango Oil & Gas logged revenue of $41.3 million. The one analyst polled by S&P Capital IQ anticipated net sales of $49.7 million on the same basis. GAAP reported sales were 25% lower than the prior-year quarter's $55.3 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 $0.96. The one earnings estimate compiled by S&P Capital IQ predicted $1.08 per share. GAAP EPS of $0.96 for Q3 were 10% lower than the prior-year quarter's $1.07 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 86.1%, 240 basis points worse than the prior-year quarter. Operating margin was 54.7%, 760 basis points better than the prior-year quarter. Net margin was 35.5%, 510 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $51.0 million. On the bottom line, the average EPS estimate is $1.14.
Next year's average estimate for revenue is $222.7 million. The average EPS estimate is $4.15.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 534 members out of 547 rating the stock outperform, and 14 members rating it underperform. Among 135 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 131 give Contango Oil & Gas a green thumbs-up, and four give it a red thumbs-down.
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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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