Triangle Petroleum Misses on Both Revenue and Earnings

Triangle Petroleum (AMEX: TPLM) reported earnings on May 1. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended Jan. 31 (Q4), Triangle Petroleum missed estimates on revenues and missed expectations on earnings per share.

Compared to the prior-year quarter, revenue grew significantly. GAAP loss per share contracted.

Gross margins contracted, operating margins grew, net margins expanded.

Revenue details
Triangle Petroleum booked revenue of $22.0 million. The six analysts polled by S&P Capital IQ looked for a top line of $24.4 million on the same basis. GAAP reported sales were much higher than the prior-year quarter's $3.5 million.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
EPS came in at -$0.20. The 11 earnings estimates compiled by S&P Capital IQ predicted $0.00 per share. GAAP EPS were -$0.20 for Q4 compared to -$0.34 per share for the prior-year quarter.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Margin details
For the quarter, gross margin was 60.6%, much worse than the prior-year quarter. Operating margin was -11.8%, much better than the prior-year quarter. Net margin was -37.7%, much better than the prior-year quarter. (Margins calculated in GAAP terms.)

Looking ahead
Next quarter's average estimate for revenue is $33.1 million. On the bottom line, the average EPS estimate is $0.07.

Next year's average estimate for revenue is $212.8 million. The average EPS estimate is $0.64.

Investor sentiment
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 87 members out of 90 rating the stock outperform, and three members rating it underperform. Among 11 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 10 give Triangle Petroleum a green thumbs-up, and one give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Triangle Petroleum is outperform, with an average price target of $9.33.

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