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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
Mark Trader
29 Jan 15 14:06:35
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Chayton Falke
29 Jan 15 13:10:07
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Livevol Community
29 Jan 15 12:34:02
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29 Jan 15 12:03:20
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29 Jan 15 12:01:21
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Alexander Morris
29 Jan 15 09:30:20
$TPLM: 5mCrossSMA- (4.91), 10%DnDays:11, AtgPivL3, tf:1000110, ch:-4.8%[2.2%offLo], DyVol:1.54M:0.7x:0.7x, DyRng:9.8%:0.5x:0.9x,
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29 Jan 15 09:07:36
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Trader News Daily
29 Jan 15 08:41:46
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Harry Walkman
29 Jan 15 08:04:12
$TPLM Energy Shares Regain Some Footing: SandRidge Energy Inc. (SD), Triangle ... http://t.co/r5lui7EGb1
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29 Jan 15 07:19:50
BLOCK TRADE (Microcap): $TPLM 807,300 shares @ $4.78 [10:19:49]
Samuel Brown
29 Jan 15 06:02:35
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29 Jan 15 06:02:31
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29 Jan 15 05:45:08
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29 Jan 15 03:14:27
3 Small Cap Bakken Oil Companies Who May Not Survive The Oil Price Plunge http://t.co/WXvsPlEnRD $EOX $TPLM $HK
Chayton Falke
29 Jan 15 03:10:07
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28 Jan 15 20:25:50
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Chayton Falke
28 Jan 15 19:45:01
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Mark Trader
28 Jan 15 18:28:53
The last http://t.co/8hGh2pPo4U alert popped over 400%. So sweet and free to sign up. $GERN $TPLM $TRQ $SONS $HELI $FMCC
Chayton Falke
28 Jan 15 17:10:08
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Wall Street
28 Jan 15 14:27:35
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Adrian Etzon
28 Jan 15 13:21:02
RT @nanexllc: $TPLM's double flash dash: http://t.co/Kr4RBLtiMP
Trader News Daily
28 Jan 15 13:15:56
Wow http://t.co/PeRPkZkWiw just posted last weeks results. +429%. Crazy. They offer a free trial too. $HIMX $NVAX $TPLM $ARNA $PXYN
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28 Jan 15 13:13:27
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joan soliva
28 Jan 15 13:07:11
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T Johnson
28 Jan 15 13:03:39
You see that spike in $TPLM lot of vol w/ that #OIL
fifi ferenghi
28 Jan 15 13:03:09
RT @nanexllc: $TPLM's double flash dash: http://t.co/Kr4RBLtiMP
Eric Scott Hunsader
28 Jan 15 13:02:34
$TPLM's double flash dash: http://t.co/Kr4RBLtiMP
Livevol Community
28 Jan 15 13:00:04
Gainers: $ABMD+29.04% $FSL+17.80% $JDST+16.80% Losers: $JNUG-17.71% $BBG-17.28% $TPLM-13.32% Stock Movers Report: http://t.co/MImGl2xjD8
Zman's  Energy Brain
28 Jan 15 12:56:09
@traderstewie $TPLM - undervalued by sum of parts and trading oddly into close.
Zman's  Energy Brain
28 Jan 15 12:43:35
$TPLM - odd trading action late.
Large Void Bot
28 Jan 15 12:43:11
15:43 Pops: $TPLM +4.9%
NewsHedge Squawk
28 Jan 15 12:42:52
$TPLM SPIKED HIGHER via ~ @NewsHedge
Greg David
28 Jan 15 12:23:28
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Alexander Morris
28 Jan 15 11:45:06
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Mark Trader
28 Jan 15 08:49:16
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Ticker Report
27 Jan 15 22:56:51
Triangle Petroleum Short Interest Up 8.0% in January $TPLM http://t.co/9jVmXy7sdZ
ProTradersNews
27 Jan 15 22:51:05
$TPLM: Triangle Petroleum Short Interest Up 8.0% in January (TPLM): http://t.co/bmoW2ljF8B
StockNewsWires
27 Jan 15 16:53:02
$TPLM: Triangle Petroleum Sees Large Growth in Short Interest (TPLM): http://t.co/wvG4TP0tsJ
InterCooler
27 Jan 15 16:49:06
Triangle Petroleum Sees Large Growth in Short Interest $TPLM http://t.co/FK1Wa1ZNYl
The Legacy News
27 Jan 15 16:27:19
Triangle Petroleum Short Interest Up 8.0% in January $TPLM http://t.co/4xZhAws6NU
Travis Luck
27 Jan 15 13:46:08
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27 Jan 15 12:37:35
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27 Jan 15 12:07:35
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Mark Trader
27 Jan 15 11:07:41
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Daily Contracts
27 Jan 15 10:35:01
Real-Time feed of company contracts, original agreements and executive updates from Triangle Petroleum Corp. $TPLM http://t.co/r92O91TvjO
theNose
27 Jan 15 10:22:51
sometimes the best days start poorly. i am long oil, $pbr, $tplm, $anr, $aci, $rsx. i am short 10yr bonds, $fro and daytrade short on $spy.
TheWolfOfNasdaq
27 Jan 15 09:51:40
$TPLM close to my $6 call
Daily Contracts
27 Jan 15 09:18:00
Real-Time feed of company contracts, original agreements and executive updates from Triangle Petroleum Corp. $TPLM http://t.co/r92O91TvjO
				
				
By  +Follow December 10, 2013 10:57AM
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