Rosetta Resources, Inc. (NASDAQ:ROSE) delivered a profit 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 up 1.76%.
Rosetta Resources, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 84.38% to $1.18 in the quarter versus EPS of $0.64 in the year-earlier quarter.
Revenue: Rose 55.62% to $178.12 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Rosetta Resources, Inc. reported adjusted EPS income of $1.18 per share. By that measure, the company beat the mean analyst estimate of $0.93. It missed the average revenue estimate of $193.29 million.
Quoting Management: “Rosetta’s first quarter results reflect a strong start in 2013 with record levels of production. We will continue to focus on efficient operational execution as we further expand the development of our Eagle Ford program,” said Jim Craddock, Rosetta’s Chairman, CEO and President. “Rosetta will also add significant oil-rich capital project inventory from our pending entry into the Permian Basin which will be our second core area. With an anticipated close date on or before May 14, Rosetta will work to quickly integrate these assets and move forward with our development program. We are well-positioned to continue to deliver double-digit production growth and competitive returns to our shareholders in the years ahead.”
Key Stats (on next page)…
Revenue decreased 0.11% from $178.31 million in the previous quarter. EPS increased 49.37% from $0.79 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 $1.01 to a profit $0.94. For the current year, the average estimate has moved down from a profit of $4.33 to a profit of $3.94 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)