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Bonanza Creek Energy Beats on Both Top and Bottom Lines

Friday - 3/15/2013, 3:46pm  ET

Bonanza Creek Energy reported earnings on March 14. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended Dec. 31 (Q4), Bonanza Creek Energy beat expectations on revenues and beat expectations on earnings per share.

Compared to the prior-year quarter, revenue grew significantly. Non-GAAP earnings per share grew. GAAP earnings per share grew.

Margins grew across the board.

Revenue details
Bonanza Creek Energy booked revenue of $73.6 million. The nine analysts polled by S&P Capital IQ predicted revenue of $68.5 million on the same basis. GAAP reported sales were 99% higher than the prior-year quarter's $36.9 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 $0.39. The 11 earnings estimates compiled by S&P Capital IQ averaged $0.38 per share. Non-GAAP EPS were $0.39 for Q4 compared to -$0.01 per share for the prior-year quarter. GAAP EPS were $0.31 for Q4 against -$0.01 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 88.9%, 790 basis points better than the prior-year quarter. Operating margin was 41.4%, much better than the prior-year quarter. Net margin was 17.7%, much better than the prior-year quarter. (Margins calculated in GAAP terms.)

Looking ahead
Next quarter's average estimate for revenue is $75.8 million. On the bottom line, the average EPS estimate is $0.43.

Next year's average estimate for revenue is $383.6 million. The average EPS estimate is $2.25.

Investor sentiment

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Bonanza Creek Energy is outperform, with an average price target of $29.50.

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This article was originally published as Bonanza Creek Energy Beats on Both Top and Bottom Lineson Fool.com

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