Hornbeck Offshore Services Crushes Earnings Estimates
Hornbeck Offshore Services (NYS: HOS) reported earnings on May 1. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended March 31 (Q1), Hornbeck Offshore Services beat expectations on revenues and crushed expectations on earnings per share.
Compared to the prior-year quarter, revenue grew significantly. Non-GAAP earnings per share expanded significantly. GAAP earnings per share shrank.
Gross margins expanded, operating margins grew, net margins contracted.
Hornbeck Offshore Services booked revenue of $147.5 million. The nine analysts polled by S&P Capital IQ foresaw a top line of $137.4 million on the same basis. GAAP reported sales were 23% higher than the prior-year quarter's $120.0 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 $0.59. The 14 earnings estimates compiled by S&P Capital IQ predicted $0.31 per share. Non-GAAP EPS of $0.59 for Q1 were 119% higher than the prior-year quarter's $0.27 per share. GAAP EPS of $0.17 for Q1 were 5.6% lower than the prior-year quarter's $0.18 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 57.0%, 640 basis points better than the prior-year quarter. Operating margin was 32.1%, 820 basis points better than the prior-year quarter. Net margin was 4.2%, 110 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $145.6 million. On the bottom line, the average EPS estimate is $0.42.
Next year's average estimate for revenue is $605.9 million. The average EPS estimate is $1.99.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 382 members out of 395 rating the stock outperform, and 13 members rating it underperform. Among 90 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 88 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 $50.58.
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The article Hornbeck Offshore Services Crushes Earnings Estimates originally appeared on Fool.com.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. The Motley Fool has no position in any of the stocks mentioned. 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.
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