The Gory Details on Gulfport Energy's Double Miss

Seth Jayson, The Motley Fool
Updated

Gulfport Energy (NAS: GPOR) reported earnings on May 7. Here are the numbers you need to know.

The 10-second takeaway
 For the quarter ended March 31 (Q1), Gulfport Energy missed estimates on revenues and missed estimates on earnings per share.

Compared to the prior-year quarter, revenue contracted significantly. Non-GAAP earnings per share dropped significantly. GAAP earnings per share grew significantly.


Gross margins shrank, operating margins dropped, net margins grew.

Revenue details
 Gulfport Energy booked revenue of $54.9 million. The 10 analysts polled by S&P Capital IQ expected revenue of $58.7 million on the same basis. GAAP reported sales were 16% lower than the prior-year quarter's $65.5 million.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
 EPS came in at $0.10. The 15 earnings estimates compiled by S&P Capital IQ forecast $0.14 per share. Non-GAAP EPS of $0.10 for Q1 were 79% lower than the prior-year quarter's $0.48 per share. GAAP EPS of $0.61 for Q1 were 27% higher than the prior-year quarter's $0.48 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Margin details
 For the quarter, gross margin was 77.3%, 190 basis points worse than the prior-year quarter. Operating margin was 27.9%, much worse than the prior-year quarter. Net margin was 81.0%, much better than the prior-year quarter. (Margins calculated in GAAP terms.)

Looking ahead
 Next quarter's average estimate for revenue is $97.8 million. On the bottom line, the average EPS estimate is $0.20.

Next year's average estimate for revenue is $502.7 million. The average EPS estimate is $0.91.

Investor sentiment

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Gulfport Energy is buy, with an average price target of $55.27.

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The article The Gory Details on Gulfport Energy's Double Miss 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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