Vanguard Natural Resources Increases Sales but Misses Estimates on Earnings
Vanguard Natural Resources (NAS: VNR) reported earnings on July 31. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended June 30 (Q2), Vanguard Natural Resources crushed expectations on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue grew significantly. Non-GAAP earnings per share grew significantly. GAAP earnings per share dropped significantly.
Gross margins grew, operating margins dropped, net margins contracted.
Vanguard Natural Resources booked revenue of $175.3 million. The seven analysts polled by S&P Capital IQ expected sales of $124.1 million on the same basis. GAAP reported sales were much higher than the prior-year quarter's $66.4 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures are normalized by S&P Capital IQ and may vary to maintain comparability with normalized estimates.
EPS came in at $0.27. The 13 earnings estimates compiled by S&P Capital IQ predicted $0.31 per share. Non-GAAP EPS of $0.27 for Q2 were 59% higher than the prior-year quarter's $0.17 per share. GAAP EPS of $1.14 for Q2 were 42% lower than the prior-year quarter's $1.98 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures are normalized by S&P Capital IQ and may vary to maintain comparability with normalized estimates.
For the quarter, gross margin was 79.2%, much better than the prior-year quarter. Operating margin was 50.8%, much worse than the prior-year quarter. Net margin was 46.4%, much worse than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $131.9 million. On the bottom line, the average EPS estimate is $0.34.
Next year's average estimate for revenue is $482.7 million. The average EPS estimate is $1.24.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 249 members out of 262 rating the stock outperform, and 13 members rating it underperform. Among 44 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 42 give Vanguard Natural Resources 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 Vanguard Natural Resources is outperform, with an average price target of $32.31.
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The article Vanguard Natural Resources Increases Sales but Misses Estimates on Earnings originally appeared on Fool.com.
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