Petrohawk Energy Corporation (NYSE:HK) delivered a profit and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 4.56%.
Petrohawk Energy Corporation Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 100% to $0.04 in the quarter versus EPS of $0.02 in the year-earlier quarter.
Revenue: Rose 820.7% to $214.34 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Petrohawk Energy Corporation reported adjusted EPS income of $0.04 per share. By that measure, the company missed the mean analyst estimate of $0.06. It beat the average revenue estimate of $209.81 million.
Quoting Management: Floyd C. Wilson, Chairman and Chief Executive Officer, commented, “We continue to make progress on all fronts. Operationally, we are generating better returns on the wells we have recently drilled in our core areas by focusing on improving recoveries and reducing costs. As is our practice, our portfolio management process is underway and we expect to be a more concentrated oil company by the end of this year.”
Key Stats (on next page)…
Revenue increased 12.42% from $190.66 million in the previous quarter. EPS decreased 20% from $0.05 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 profit of $0.1 to a profit $0.08. For the current year, the average estimate has moved down from a profit of $0.37 to a profit of $0.3 over the last ninety days.
Stocks with improving earnings metrics are worthy of your extra attention. In fact, “E = Earnings Are Increasing Quarter-Over-Quarter” is a core component of our CHEAT SHEET investing framework for this very reason. Don’t waste another minute – click here and get our CHEAT SHEET stock picks now.
(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)