Ultra Petroleum Earnings: Here’s Why the Stock is Rising 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 up 2.70%.

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Ultra Petroleum Corp. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share increased 18.75% to $0.38 in the quarter versus EPS of $0.32 in the year-earlier quarter.

Revenue: Decreased 0.24% to $225.6 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Ultra Petroleum Corp. reported adjusted EPS income of $0.38 per share. By that measure, the company beat the mean analyst estimate of $0.27. It beat the average revenue estimate of $211.45 million.

Quoting Management: “Today we find ourselves on more solid footing having weathered the trough of the commodity price cycle. Natural gas prices have improved over 20 percent from year ago levels and we anticipate this trend continues with decreasing production and structural demand increasing,” stated Michael D. Watford, Chairman, President and Chief Executive Officer.

Key Stats (on next page)…

Revenue increased 3.87% from $217.19 million in the previous quarter. EPS decreased 25.49% from $0.51 in the previous quarter.

Looking Forward: Analysts have a more positive outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has risen from a profit of $0.19 to a profit $0.37. For the current year, the average estimate has moved up from a profit of $1.03 to a profit of $1.54 over the last ninety days.

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