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Oceaneering International Beats Analyst Estimates on EPS

Wednesday - 4/24/2013, 2:00am  ET

Oceaneering International reported earnings on April 23. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended March 31 (Q1), Oceaneering International met expectations on revenues and beat expectations on earnings per share.

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

Margins increased across the board.

Revenue details
Oceaneering International reported revenue of $718.6 million. The 17 analysts polled by S&P Capital IQ expected revenue of $715.1 million on the same basis. GAAP reported sales were 21% higher than the prior-year quarter's $594.9 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 $0.69. The 20 earnings estimates compiled by S&P Capital IQ predicted $0.60 per share. GAAP EPS of $0.69 for Q1 were 47% higher than the prior-year quarter's $0.47 per share.

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 22.3%, 160 basis points better than the prior-year quarter. Operating margin was 15.1%, 230 basis points better than the prior-year quarter. Net margin was 10.4%, 180 basis points better than the prior-year quarter. (Margins calculated in GAAP terms.)

Looking ahead
Next quarter's average estimate for revenue is $792.0 million. On the bottom line, the average EPS estimate is $0.83.

Next year's average estimate for revenue is $3.20 billion. The average EPS estimate is $3.22.

Investor sentiment
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 789 members out of 802 rating the stock outperform, and 13 members rating it underperform. Among 151 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 146 give Oceaneering International a green thumbs-up, and five give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Oceaneering International is outperform, with an average price target of $69.83.

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This article was originally published as Oceaneering International Beats Analyst Estimates on EPSon Fool.com

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