Continental Resources' Earnings Beat Last Year's by 63%
Feb 23rd 2012 10:47AM
Updated Feb 23rd 2012 11:28AM
Continental Resources (NYS: CLR) reported earnings on Feb. 22. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended Dec. 31 (Q4), Continental Resources whiffed on revenue and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue increased significantly and GAAP loss per share improved.
Margins contracted across the board.
Continental Resources booked revenue of $114.1 million. The 13 analysts polled by S&P Capital IQ expected revenue of $479.3 million on the same basis. GAAP reported sales were 59% lower than the prior-year quarter's $279.8 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
Non-GAAP EPS came in at $0.83. The 19 earnings estimates compiled by S&P Capital IQ averaged $0.76 per share on the same basis. GAAP EPS were -$0.62 for Q4 compared to -$0.27 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 19.7%, 6,190 basis points worse than the prior-year quarter. Operating margin was -152.2%, 12,950 basis points worse than the prior-year quarter. Net margin was -98.2%, 8,210 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $493.1 million. On the bottom line, the average EPS estimate is $0.75.
Next year's average estimate for revenue is $2.10 billion. The average EPS estimate is $3.24.
The stock has a three-star rating (out of five) at Motley Fool CAPS. Among 160 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 151 give Continental Resources a green thumbs-up, and nine give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Continental Resources is outperform, with an average price target of $75.53.
Is Continental Resources the right energy stock for you? Read about a handful of timely, profit-producing plays on expensive crude in our latest report: "3 Stocks for $100 Oil." Click here for instant access to this free report.
- Add Continental Resources to My Watchlist.
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 of Motley 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.
Copyright © 1995 - 2012 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.