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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.

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Results for TPLM
Dakota Financial
27 Aug 15 11:24:17
Simmons Lowers Triangle Petroleum Price Target to $4.00 $TPLM http://t.co/t3U7dmauIF
MarketBeatCom
27 Aug 15 11:16:20
Triangle Petroleum's PT cut by Simmons to $4.00. neutral rating. http://t.co/oljrVKxzTb $TPLM #TPLM
US Banking News
27 Aug 15 11:16:06
Simmons Lowers Triangle Petroleum Price Target to $4.00 $TPLM http://t.co/vadkiCgUNq
Ticker Report
27 Aug 15 11:11:20
Simmons Lowers Triangle Petroleum Price Target to $4.00 $TPLM http://t.co/7298fhA454
US Consumer News
27 Aug 15 11:08:31
Triangle Petroleum's PT cut by Simmons to $4.00. neutral rating. http://t.co/xSifzDdup7 $TPLM #TPLM
Daily Contracts
27 Aug 15 09:35:01
Real-Time feed of company contracts, original agreements and executive updates from $TPLM http://t.co/r92O912HVC
SmallCaps
27 Aug 15 08:26:35
Fous4x2 DVD review: http://t.co/RQiLZwZ9an $EFA $VNR $COG $TPLM $CLC $BXE.CA $VMW $XLB $MOBL $WEC
$$$ Money $$$
27 Aug 15 07:48:59
$TPLM now up 12% more in addition from added yesterday with group @2.77 https://t.co/fq4KmaIVLY its money bro & sis. 💰💰☔️
michiel berkel
27 Aug 15 07:41:08
@BiotechMoney18 $TPLM thanks! Great call. Also your $TTPH is moving. When will they come out with any news?
$$$ Money $$$
27 Aug 15 06:59:57
$TPLM share this free idea yesterday at 2.77 saying it will move higher this week. IIts up 6% today. Overall, 13% fr idea. Free $$ there.
Joel
26 Aug 15 17:43:34
$TPLM update. 3.00 tagged. http://t.co/eFmP3pRH1o
Hunter Lift, LTD
26 Aug 15 13:09:37
RT @OGFJ: OGFJ #PhotooftheDay Triangle Petroleum #oilandgas development in the #Bakken. http://t.co/9zOrHt2XP6 $TPLM http://t.co/zk91i6HeTe
mihalache daniel
26 Aug 15 13:04:08
RT @SmartEnergy2015: OGFJ: OGFJ #PhotooftheDay Triangle Petroleum #oilandgas development in the #Bakken. http://t.co/2yuuWsEX7S $TPLM http:…
SmartEnergy
26 Aug 15 12:58:10
OGFJ: OGFJ #PhotooftheDay Triangle Petroleum #oilandgas development in the #Bakken. http://t.co/2yuuWsEX7S $TPLM http://t.co/igYFzX3loH
Sanki Petro
26 Aug 15 12:55:34
RT @OGFJ: OGFJ #PhotooftheDay Triangle Petroleum #oilandgas development in the #Bakken. http://t.co/9zOrHt2XP6 $TPLM http://t.co/zk91i6HeTe
OGFJ
26 Aug 15 12:50:44
OGFJ #PhotooftheDay Triangle Petroleum #oilandgas development in the #Bakken. http://t.co/9zOrHt2XP6 $TPLM http://t.co/zk91i6HeTe
$$$ Money $$$
26 Aug 15 08:10:05
$TPLM @ 2.77 i like this oil name to move higher this week, good reward vs risk here. $3.25+PT, imo
SmallCaps
26 Aug 15 04:50:38
Fous4x2 DVD review: http://t.co/RQiLZxgKyX $EFA $VNR $COG $TPLM $CLC $BXE.CA $VMW $XLB $MOBL $WEC
WatchTheFunds
26 Aug 15 01:36:02
$TPLM Institutional ownership up 17.98% Q/Q, with 12,017,400 net purchase http://t.co/m7SwrufO89 http://t.co/DwhgMdGPG1
Joel
25 Aug 15 16:18:22
$TPLM long setup. may test 3.00 leading into earnings. http://t.co/H1wUU0Utbt
Daily Contracts
25 Aug 15 10:51:01
Real-Time feed of company contracts, original agreements and executive updates from $TPLM http://t.co/r92O91kjkc
Daily Contracts
25 Aug 15 10:26:01
Real-Time feed of company contracts, original agreements and executive updates from $TPLM http://t.co/r92O912HVC
Large Void Bot
25 Aug 15 08:51:12
11:51 Pops: $TPLM +4.4%
investor wired
25 Aug 15 06:56:33
Three Stocks that showed Volatility – $TPLM $FTK $HZNP http://t.co/rn8ltv5V3o
SmallCaps
24 Aug 15 06:51:55
Fous4x2 DVD review: http://t.co/RQiLZxgKyX $EFA $VNR $COG $TPLM $CLC $BXE.CA $VMW $XLB $MOBL $WEC
Reporting Standards
23 Aug 15 05:06:57
$tplm Triangle Petroleum Corp filed a new #XBRL report to the #SEC. http://t.co/wsSzOCDVl2
The Legacy News
22 Aug 15 05:42:39
Triangle Petroleum Lifted to Hold at Zacks $TPLM http://t.co/5eXhwjpLFR
Penny Stock Research
21 Aug 15 12:27:01
"@chartseer: Longs http://t.co/ojQDcZreAV $UNXL $FSLR $RDNT $SYRG $TPLM $CROX $SANM $RTIX $MPO $WRES"
Capital Market Labs
21 Aug 15 08:07:45
Technical Collapse -> http://t.co/PxWLbKFR5E $TPLM Down -5.96% to New Low http://t.co/lWIhx02OHt
Large Void Bot
21 Aug 15 06:36:15
09:36 New 52wk Lows: $OLN $SPW $STKL $TPLM $TRST $VEDL $VHC $WCC
WatchTheFunds
20 Aug 15 18:10:03
$TPLM Institutional ownership up 17.98% Q/Q, with 12,017,400 net purchase http://t.co/m7SwrufO89 http://t.co/vrdU1MFwuo
Capital Market Labs
20 Aug 15 14:57:34
Technical Collapse -> http://t.co/PxWLbKFR5E $TPLM Down -5.35% to New Low http://t.co/aIzXxuj5DU
SmallCaps
20 Aug 15 13:52:07
Fous4x2 DVD review: http://t.co/RQiLZxgKyX $EFA $VNR $COG $TPLM $CLC $BXE.CA $VMW $XLB $MOBL $WEC
Daily Contracts
20 Aug 15 11:37:00
Real-Time feed of company contracts, original agreements and executive updates from $TPLM http://t.co/r92O912HVC
ProVesting
20 Aug 15 11:05:04
$SFXE $NWL $TPLM: Afternoon Trade Stocks Roundup: SFX Entertainment (NASDAQ …: http://t.co/QclmRzqnIm
Large Void Bot
20 Aug 15 10:33:15
13:33 New 52wk Lows: $TPLM
Sleek Money
20 Aug 15 09:36:20
Triangle Petroleum Stock Rating Upgraded by Zacks $TPLM http://t.co/i6RFv7FRVh
Oil Gas
20 Aug 15 05:52:45
RT @DailyStockPlays: Stochastic Oversold http://t.co/v8WG86QnYg $URBN $WMT $EWU $STNG $LC $AMTD $FXI $EWC $TPLM $VIP $TEF $TOT $ABB $RES $E…
ProTradersNews
20 Aug 15 03:01:02
$TPLM: Triangle Petroleum Corporation: Triangle Petroleum Announces …: http://t.co/2unWx0v5cH
V-Trader
19 Aug 15 22:50:29
$TPLM watching $3 level. Could make a double bottom
dailystockplays.com
19 Aug 15 18:07:32
Stochastic Oversold http://t.co/v8WG86QnYg $URBN $WMT $EWU $STNG $LC $AMTD $FXI $EWC $TPLM $VIP $TEF $TOT $ABB $RES $ECA $LYG $BBVA $IVZ
Stocks News&Markets
19 Aug 15 14:17:01
$TPLM - Triangle Petroleum Announces Date of Second Quarter Fiscal Year 2016 Earnings and Conference Call http://t.co/Le9mz0InzO
WatchTheFunds
19 Aug 15 01:03:02
$TPLM Institutional ownership up 17.98% Q/Q, with 12,017,400 net purchase http://t.co/m7SwrufO89 http://t.co/XJp8PGDqWB
				
				
By  +Follow December 10, 2013 10:57AM
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