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

By  +Follow December 10, 2013 10:57AM
Tickers Mentioned:

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
US Banking News
24 Oct 14 17:04:20
Triangle Petroleum Short Interest Up 6.2% in October $TPLM http://t.co/ZlYVE24kWK
Peter Bardens
24 Oct 14 13:02:00
$TPLM Triangle Petroleum Given Consensus Recommendation of "Buy" by Analysts ... http://t.co/FPKYDtbYHq
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
Gotham City Capital
24 Oct 14 02:26:28
@Biotech2050 Dude I just played that last bottom in OIL.. $KOG $MHR..Like $TPLM and all the big ones.. We're going to $70-75 WTI
23 Oct 14 20:07:13
http://t.co/jYcEVtZYAh Stock_Tracker: Stock DD Board: Triangle Petroleum Corp (TPLM) 8.24 $TPLM Oil and http://t.co/TvFEzjLgxd
23 Oct 14 20:07:11
http://t.co/jYcEVtZYAh chartguy89: Stock Charts: TPLM 8.24 Stock Charts $TPLM Triangle Petroleum http://t.co/U1YkS92NOT
23 Oct 14 19:52:59
TPLM 8.24 Stock Charts $TPLM Triangle Petroleum Corp. (NYSE MKT) Last Updated: 10/23/2014 21:52:59 TPLM Stock http://t.co/pLjHO0oSHM
23 Oct 14 10:48:09
$AKS $EXXI $GPOR $IMGN $NLNK $PE $PGN $SN $TPLM autocharts @ http://t.co/hj7PGeTQk3
23 Oct 14 10:33:29
$ACHN $AEGR $FMSA $HZNP $ISIS $LPI $SONS $TDW $TPLM autocharts @ http://t.co/hj7PGeTQk3
23 Oct 14 10:17:07
$GST $OREX $PTEN $REXX $ROSE $SONS $TPLM $WPRT $WRES autocharts @ http://t.co/hj7PGeTQk3
23 Oct 14 09:40:58
Triangle Petroleum Given Buy Rating at Wunderlich $TPLM http://t.co/sJYZ5J3aCy
23 Oct 14 08:45:52
$BCEI $BTU $CDE $CRK $GDP $GLOG $HK $JKS $TPLM autocharts @ http://t.co/hj7PGeTQk3
23 Oct 14 07:08:12
Half of $tplm acreage in the lowest cost per barrel extraction in North Dakota. $28 per barrel break even point. Funded & hedged till 2016.
22 Oct 14 19:39:29
Triangle buy rating reiterated at Wunderlich. $13.00 PT. http://t.co/q0tvgffBzB $TPLM #TPLM via @RatingsNetwork http://t.co/ucgCUg8F7Z
22 Oct 14 14:00:51
$TPLM trades in line with $NOG a non-operator in the region...people are really misunderstanding this thing and it's an easy double
22 Oct 14 13:59:49
Midstream and OFS subs could IPO today for ~75% of EV. And core E&P biz is worth more than current share price at peer multiples $TPLM
22 Oct 14 13:50:10
Been avoiding Twitter lately for one reason....I've been "mostly-energy". Largest long is $TPLM on SOTP and short term catalysts
22 Oct 14 12:18:03
The Top Tweets Related to $TPLM (Triangle Pete Corp symbol TPLM) on 10/22/2014 http://t.co/E8X2nyBzfC
Gotham City Capital
22 Oct 14 11:03:22
$USO Oil Under A Bit Of Pressure. Will Be Interested On Another Round Of Selling.. Like $KOG $TPLM $MHR http://t.co/R8soxWTO12
US Banking News
22 Oct 14 08:10:54
Triangle Petroleum’s “Buy” Rating Reiterated at Wunderlich $TPLM http://t.co/XeMN787eUo
22 Oct 14 06:36:15
Triangle Petroleum Stock Rating Reaffirmed by Wunderlich $TPLM http://t.co/4OiAMmYxSc
Catalyst Global Mkts
22 Oct 14 06:34:04
Okay, its "hump day. However; here are some #stocks on our #trading radar: $RYL , $DHI , $APC , $TPLM , $JKS , $HFC , $CMRX , $TKMR , .....
US Consumer News
22 Oct 14 05:20:16
Triangle Petroleum's buy rating reiterated at Wunderlich. $13.00 PT. http://t.co/QoAFiSjbqi $TPLM #TPLM
Analyst Ratings
22 Oct 14 05:19:30
Triangle Petroleum's buy rating reiterated at Wunderlich. $13.00 PT. http://t.co/1tchWW7gaf $TPLM #TPLM
21 Oct 14 14:02:17
Top Basic Materials Small-Cap Star for October 21 is Gevo Inc. (GEVO) $TPLM $SNMX $MILL $PKD $GEVO http://t.co/vsJG55k0hr
21 Oct 14 12:41:37
$DRYS $EMES $HK $LAKE $MHR $PVA $SDRL $SN $TPLM autocharts @ http://t.co/hj7PGeTQk3
21 Oct 14 12:06:37
$ACHN $APT $EXAS $GILD $LAKE $NOG $SCTY $SPWR $TPLM autocharts @ http://t.co/hj7PGeTQk3
21 Oct 14 11:19:37
$ACHN $AEGR $BABA $DRYS $LPI $MNI $NLNK $SPWR $TPLM autocharts @ http://t.co/hj7PGeTQk3
20 Oct 14 09:18:09
$CELG $CLF $ESI $EXXI $HK $KOG $OAS $SCTY $TPLM autocharts @ http://t.co/hj7PGeTQk3
19 Oct 14 20:30:05
Price Declines: $NKTR $FIVE $HCSG $MELI $MTDR $BRS $WTI $FRAN $POOL $CLNE $TPLM $WPP $BABY $ABCO $NBIX http://t.co/Vv2VEn80mr #stockmarket
19 Oct 14 08:30:07
Price Declines: $NKTR $FIVE $HCSG $MELI $MTDR $BRS $WTI $FRAN $POOL $CLNE $TPLM $WPP $BABY $ABCO $NBIX http://t.co/XQITF0lRKD #analyst #spy
18 Oct 14 20:30:07
Price Declines: $NKTR $FIVE $HCSG $MELI $MTDR $BRS $WTI $FRAN $POOL $CLNE $TPLM $WPP $BABY $ABCO $NBIX http://t.co/XQITF0lRKD #swingtrading
18 Oct 14 08:30:06
Price Declines: $FIVE $HCSG $MELI $MTDR $BRS $WTI $FRAN $POOL $CLNE $TPLM $WPP $BABY $ABCO $NBIX $PTX http://t.co/Vv2VEn80mr #finance #mkt
17 Oct 14 20:30:08
Price Declines: $HCSG $MELI $MTDR $BRS $WTI $FRAN $POOL $CLNE $TPLM $WPP $BABY $ABCO $NBIX $PTX $USG http://t.co/XQITF0lRKD #trading #mkt
17 Oct 14 18:39:15
Triangle Petroleum (TPLM) Drops 10.03% on October 17 $TPLM http://t.co/vgOVrawKEs
Daily Contracts
17 Oct 14 09:38:01
Real-Time feed of company contracts, original agreements and executive updates from Triangle Petroleum Corp. $TPLM http://t.co/r92O912HVC
Raoul Alexi
17 Oct 14 07:59:35
RT @tymorapro: $TPLM: Waterfall-:1 [-1%,201.5%offLo], News, PrvCHi, 7:1Accel-, tf:0111000, FirmTrnd-:+100%; TLM:1.8; ILM:1.5, PrvClGap+[+1.…
Alexander Morris
17 Oct 14 07:27:02
$TPLM: Waterfall-:1 [-1%,201.5%offLo], News, PrvCHi, 7:1Accel-, tf:0111000, FirmTrnd-:+100%; TLM:1.8; ILM:1.5, PrvClGap+[+1.5%],
17 Oct 14 05:05:35
TRIANGLE PETROLEUM : Other Events (form 8-K) http://t.co/shFgt60WQj $TPLM
Stocks News&Markets
17 Oct 14 05:05:17
$TPLM - Current Report Filing (8-k) http://t.co/HAWUqPKKdv
17 Oct 14 05:05:15
$TPLM - Current Report Filing (8-k) http://t.co/CQ11Z5zRhB
BV Basic Materials
17 Oct 14 05:03:06
$TPLM Triangle Petroleum Corp files Form 8-K (Events or Changes Between Quarterly Reports) SEC Filing.. http://t.co/1X2rICmbKt
Instrumental Data
17 Oct 14 05:01:19
16 Oct 14 22:58:29
Triangle Petroleum (TPLM) Jumps 9.01% on October 16 $TPLM http://t.co/B8IVOeNl0B
16 Oct 14 14:03:15
Top Basic Materials Small-Cap Star for October 16 is Goodrich Petroleum Corp. (GDP) $WLB $TPLM $SYRG $EROC $GDP http://t.co/13hhwh4Dci
16 Oct 14 12:24:56
$AMJ $CMRX $CYTR $NOG $REXX $SCTY $SRPT $TPLM $WETF autocharts @ http://t.co/hj7PGeTQk3
Gotham City Capital
16 Oct 14 10:52:58
$TPLM What A Bounce!! Amazing.. http://t.co/eRIAryPUK0
16 Oct 14 10:33:56
$EOX $HZNP $KERX $REXX $SPWR $SRPT $TIVO $TPLM $TQNT autocharts @ http://t.co/hj7PGeTQk3
16 Oct 14 10:00:35
@TravisMKnight $SLCA $TPLM $KOG :)!!!!
By  +Follow December 10, 2013 10:57AM



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