Abraxas Petroleum Earnings: Your Sneak Peek to the Big Announcement

Abraxas Petroleum (NASDAQ:AXAS) will report earnings before markets open on Friday, May 10th. Abraxas Petroleum Corporation acquires producing oil and gas properties. The Company explores for and produces crude oil and natural gas in Texas, Wyoming, and Canada. Abraxas also operates or owns an interest in various gas processing plants in Canada.

Here is your Cheat Sheet to Abraxas Petroleum Earnings:

Earnings Expectations: Analysts expect earnings of $0.00 per share on revenues of $20.18 million.

Analyst Trends:

Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.02 to a profit $0.01. For the current year, the average estimate is a profit of $0.07, which is worse than the estimate ninety days ago.

Earnings Trends:

Here’s how Abraxas Petroleum has been performing on an annual basis:

Fiscal Year 2008 2009 2010 2011 2012
Revenue ($) in millions 100.31 52.75 58.06 64.62 68.57
Diluted EPS ($) -1.07 -0.34 0.02 0.15 -0.20

Next, our CHEAT SHEET investing framework asks us to drill down to the recent quarterly data:

Quarter Dec. 31, 2011 Mar. 31, 2012 Jun. 30, 2012 Sep. 30, 2012 Dec. 31, 2012
Revenue ($) in millions 16.45 16.39 15.94 17.17 19.07
Diluted EPS ($) -0.0574 0.01 0.12 -0.20 -0.1289

Past Performance:
Abraxas Petroleum has beat analyst estimates 1 time in the past four quarters. This is not consistent enough to get bullish yet.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)