Goodrich Petroleum Earnings: Here’s Why the Stock is Falling Now

Goodrich Petroleum Corp. (NYSE:GDP) had a loss and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 1.55%.

Goodrich Petroleum Corp. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share increased to $-0.63 in the quarter versus EPS of $-0.21 in the year-earlier quarter.

Revenue: Rose 17.29% to $48.5 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Goodrich Petroleum Corp. reported adjusted EPS loss of $0.63 per share. By that measure, the company beat the mean analyst estimate of $-0.65. It missed the average revenue estimate of $57.4 million.

Key Stats (on next page)…

Revenue increased 3.02% from $47.08 million in the previous quarter. EPS decreased to $-0.63 in the quarter versus EPS of $-0.76 in the previous quarter.

Looking Forward: 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 loss of $0.52 to a loss $0.63. For the current year, the average estimate has moved down from a loss of $2.01 to a loss of $2.59 over the last ninety days.

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