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Triangle Petroleum (TPLM) Drops Earnings Miss, Despite Better Revenue & Production

By  +Follow December 10, 2013 10:57AM
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Independent upstream oil & gas firm Triangle Petroleum (TPLM) was trading nearly 6 percent lower on Tuesday after the release of its earnings statement for the period ended Oct. 31.

For the third quarter of 2013, Triangle reported earnings, excluding one-time items, of $0.18 per share, on revenue of $88.6 million. While this represented a massive year-over-year increase, with revenue up over 300 percent and earnings well ahead of Q3 2012’s loss of $0.05 per share, the results lagged EPS estimates of $0.24 per share. Revenue, however, handily beat the consensus estimate of $72 million.

Triangle petroleum managed to up production substantially from the prior-year, with volume up nearly 400 percent to 626,000 barrels of oil equivalent per day. Revenue from exploration and production were at $55.5 million, an increase of over 430 percent on the year-ago period, while operating income was $40.5 million, an increase of nearly two-thirds.

Much of the gains have been credited to the company’s RockPile Energy Services unit, with a 64 percent increase on the prior year’s revenue at $66 million, while revenues from its midstream unit, Caliber Midstream, were up 8 percent to $4 million.

Despite the very large revenue increases, the Triangle’s earnings took a hit from the operating costs necessary to increase production. Expenses for the period tallied at $71.5 million, for a year-over-year increase of some 225 percent.

As for guidance, the company expects output to continue increasing in 2014, from 7,000-8,000 barrels of oil equivalent per day to 7,500-8,500 per day. Investors sold off all the same, however, sending shares of the company down over 7 percent to $9.89.

Still, shareholders probably have little to worry about. Triangle is well-placed in some of the best shale acreage in the country, particularly in the Bakken Shale in North Dakota. The stock has advanced nearly 80 percent throughout 2013, and despite the increase in operational costs, the company’s operating margin rests at a healthy 10.70 percent.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions.


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Results for TPLM
stockblaster14
31 Oct 14 19:58:19
Triangle Petroleum Corp (TPLM) 7.75 $TPLM Shares of TPLM Down 23.0% Since Downtrend Call on Shares Comtex Smar http://t.co/zxE1kDGW6H
wininstocks2014
31 Oct 14 19:36:22
TPLM 7.75 Stock Charts $TPLM Triangle Petroleum Corp. (NYSE MKT) Last Updated: 10/31/2014 21:36:23 TPLM Stock http://t.co/2BD71EByHW
US_proptrader
31 Oct 14 12:55:32
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31 Oct 14 12:40:31
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dino perlman
31 Oct 14 11:14:17
@TravisMKnight bought back my $TPLM position at 7.30 today. Might test its low again but this should be a fair buy point
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31 Oct 14 11:08:31
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31 Oct 14 09:19:44
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Thomas Collins
31 Oct 14 09:02:29
$TPLM Triangle Petroleum Receives Average Recommendation of "Buy" from Analysts ... http://t.co/9pBYcVGdnx
John Turner
31 Oct 14 08:02:13
$TPLM Triangle Petroleum's "Buy" Rating Reiterated at Wunderlich (TPLM) http://t.co/Fb0vbEZwrP
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30 Oct 14 23:33:24
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30 Oct 14 15:47:41
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Chayton Falke
30 Oct 14 15:45:04
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30 Oct 14 14:40:02
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30 Oct 14 05:45:01
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30 Oct 14 04:31:21
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MATHILDA Collie
30 Oct 14 00:36:28
$TPLM - very strong call underway, this was a beat. There were some one time ramping costs in here that hurt the quarter & some noncash exp
Chayton Falke
29 Oct 14 19:45:03
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29 Oct 14 18:40:02
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equities.com
29 Oct 14 18:37:09
Green Plains Inc. (GPRE) is Top Materials Small-Cap Star for October 29 Morning Session $TPLM $PFIE $SYRG $GDP $GPRE http://t.co/0G7CwuMfrA
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29 Oct 14 13:31:33
$TPLM Triangle Petroleum's "Buy" Rating Reiterated at Wunderlich (TPLM) http://t.co/nm0NRDGXNZ
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29 Oct 14 13:31:32
$TPLM Triangle Petroleum Receives Average Recommendation of "Buy" from Analysts ... http://t.co/nqR9NWLhKH
Samuel Brown
29 Oct 14 08:02:15
$TPLM Triangle Petroleum's "Buy" Rating Reiterated at Wunderlich (TPLM) http://t.co/7cgtGiYKhJ
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29 Oct 14 07:27:19
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29 Oct 14 05:31:11
$TPLM Triangle Petroleum Receives Average Recommendation of "Buy" from Analysts ... http://t.co/0LxrfSTnMR
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28 Oct 14 13:02:52
$TPLM Triangle Petroleum's "Buy" Rating Reiterated at Wunderlich (TPLM) http://t.co/A1z5976nL6
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28 Oct 14 12:05:35
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John Turner
28 Oct 14 10:03:42
$TPLM Triangle Petroleum's "Buy" Rating Reiterated at Wunderlich (TPLM) http://t.co/0mHCbAMpUh
John Ablemann
28 Oct 14 09:02:21
$TPLM Triangle Petroleum Receives Average Recommendation of "Buy" from Analysts ... http://t.co/Jfvi404s0T
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equities.com
27 Oct 14 14:52:43
Triangle Petroleum (TPLM) Drops 7.16% on October 27 $TPLM http://t.co/jyTliqJlXf
Thomas Collins
27 Oct 14 12:32:22
$TPLM Triangle Petroleum Given Consensus Recommendation of "Buy" by Analysts ... http://t.co/94cB0UQ10Y
SombreroBerto
27 Oct 14 08:07:04
@ZmansEnrgyBrain they'll be loving it again at $15.00 if it hits. This one and $tplm not in trouble at all.
SombreroBerto
27 Oct 14 08:04:48
$tplm $pe I thought we'd seen enough articles discussing how oil needs to hit $70 for months to start slowing down E&Ps w/big debt-not these
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27 Oct 14 07:24:54
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27 Oct 14 06:49:38
$TPLM 7.90 alert trigger for short. No pos as it gapped down hard. Looking for short entry on bounce, if any
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25 Oct 14 23:38:14
TPLM 8.10 Stock Charts $TPLM Triangle Petroleum Corp. (NYSE MKT) Last Updated: 10/26/2014 01:38:13 TPLM Stock http://t.co/ac5ozJ08uH
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25 Oct 14 16:33:13
wininstocks2014: Stock Charts: TPLM 8.10 Stock Charts $TPLM Triangle Petroleum http://t.co/JO5B931vSL
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24 Oct 14 23:26:33
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24 Oct 14 17:04:20
Triangle Petroleum Short Interest Up 6.2% in October $TPLM http://t.co/ZlYVE24kWK
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24 Oct 14 13:02:00
$TPLM Triangle Petroleum Given Consensus Recommendation of "Buy" by Analysts ... http://t.co/FPKYDtbYHq
Lucretia
24 Oct 14 09:32:13
$TPLM Triangle Petroleum Given Consensus Recommendation of "Buy" by Analysts ... http://t.co/SE5uE6cPV3
Ticker Report
24 Oct 14 03:43:54
Triangle Petroleum’s “Buy” Rating Reiterated at Wunderlich $TPLM http://t.co/4r2nw6sUUa
				
				
By  +Follow December 10, 2013 10:57AM
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