Quicksilver Resources Second Quarter Earnings Sneak Peek

Quicksilver Resources, Inc. (NYSE:KWK) will unveil its latest earnings on Monday, August 8, 2011. Quicksilver Resources is an independent energy company engaged mainly in exploration, development and production of unconventional natural gas onshore in North America.

Quicksilver Resources, Inc. Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for net income of 6 cents per share, a decline of 66.7% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved up from 4 cents. Between one and three months ago, the average estimate moved up, and has risen from 5 cents during the last month. For the year, analysts are projecting profit of 23 cents per share, a decline of 67.1% from last year.

Past Earnings Performance: The company missed estimates last quarter after beating forecasts in the prior two. In the first quarter, the company reported net income of 2 cents per share versus a mean estimate of profit of 4 cents per share. In fourth quarter of the last fiscal year, the company beat estimates by 3 cents.

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Wall St. Revenue Expectations: On average, analysts predict $218.7 million in revenue this quarter, a decline of 4.3% from the year ago quarter. Analysts are forecasting total revenue of $886.5 million for the year, a decline of 4.5% from last year’s revenue of $928.3 million.

Analyst Ratings: Analysts seem relatively indifferent about Quicksilver Resources with 12 of 21 analysts surveyed maintaining a hold rating.

Key Stats:

A year-over-year revenue decrease in the first quarter snaps a streak of three consecutive quarters of revenue increases. Revenue fell 4.5% in the first quarter and rose 2.5%in the fourth quarter of the last fiscal year, 15% in the third quarter of the last fiscal year and 10.9% in the second quarter of the last fiscal year.

Quicksilver Resources’ loss in the latest quarter follows profits in the previous three quarters. The company reported a loss of of $70.8 million in the first quarter, a profit of $318.3 million in the fourth quarter of the last fiscal year, a profit of $21.8 million in the third of the last fiscal year and a profit of $86.8 million in the second quarter of the last fiscal year.

Competitors to Watch: Chesapeake Energy Corp. (NYSE:CHK), ConocoPhillips (NYSE:COP), Marathon Oil Corporation (NYSE:MRO), Cimarex Energy Co. (NYSE:XEC), Petrohawk Energy Corp. (NYSE:HK), Southwestern Energy Co. (NYSE:SWN), Tengasco, Inc. (AMEX:TGC), CREDO Petroleum Corp. (NASDAQ:CRED), Linn Energy, LLC (NASDAQ:LINE), and SM Energy Co. (NYSE:SM).

Stock Price Performance: During July 5, 2011 to August 2, 2011, the stock price had dropped 97 cents (-6.6%) from $14.66 to $13.69. The stock price saw one of its best stretches over the last year between August 31, 2010 and September 9, 2010 when shares rose for seven-straight days, rising 7.7% (+94 cents) over that span. It saw one of its worst periods between August 4, 2010 and August 13, 2010 when shares fell for eight-straight days, falling 13.9% (-$1.84) over that span. Shares are down $1.05 (-7.1%) year to date.

(Source: Xignite Financials)

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