Callon Petroleum Increases Sales but Misses Estimates on Earnings
Callon Petroleum (NYS: CPE) reported earnings on May 7. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended March 31 (Q1), Callon Petroleum met expectations on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue grew significantly and GAAP earnings per share shrank significantly.
Margins dropped across the board.
Callon Petroleum recorded revenue of $29.3 million. The four analysts polled by S&P Capital IQ predicted revenue of $29.5 million on the same basis. GAAP reported sales were 15% higher than the prior-year quarter's $25.4 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 $0.01. The seven earnings estimates compiled by S&P Capital IQ predicted $0.05 per share. GAAP EPS of $0.01 for Q1 were 92% lower than the prior-year quarter's $0.12 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 70.0%, 1,020 basis points worse than the prior-year quarter. Operating margin was 9.3%, 1,340 basis points worse than the prior-year quarter. Net margin was 1.7%, 1,470 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $29.1 million. On the bottom line, the average EPS estimate is $0.02.
Next year's average estimate for revenue is $131.8 million. The average EPS estimate is $0.22.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 501 members out of 527 rating the stock outperform, and 26 members rating it underperform. Among 54 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 49 give Callon Petroleum a green thumbs-up, and five give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Callon Petroleum is buy, with an average price target of $10.20.
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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.