Ultra Petroleum Earnings: Here’s Why the Stock is Down Now

Ultra Petroleum Corp. (NYSE:UPL) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 0.18%.

Ultra Petroleum Corp. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share increased 30.56% to $0.47 in the quarter versus EPS of $0.36 in the year-earlier quarter.

Revenue: Rose 53.52% to $261.4 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Ultra Petroleum Corp. reported adjusted EPS income of $0.47 per share. By that measure, the company beat the mean analyst estimate of $0.42. It beat the average revenue estimate of $234.98 million.

Quoting Management: “Our results for the first half of the year demonstrate sound execution of our 2013 objectives. Our focus now is optimizing future development of our asset portfolio in view of our returns-based development strategy and making key operational decisions that complement this approach,” stated Michael D. Watford, Chairman, President and Chief Executive Officer.

Key Stats (on next page)…

Revenue increased 15.85% from $225.63 million in the previous quarter. EPS increased 23.68% from $0.38 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 $0.42 to a profit $0.39. For the current year, the average estimate has moved up from a profit of $1.57 to a profit of $1.63 over the last ninety days.

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