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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
InterCooler
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
equities.com
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
US_proptrader
21 Oct 14 12:41:37
$DRYS $EMES $HK $LAKE $MHR $PVA $SDRL $SN $TPLM autocharts @ http://t.co/hj7PGeTQk3
US_proptrader
21 Oct 14 12:06:37
$ACHN $APT $EXAS $GILD $LAKE $NOG $SCTY $SPWR $TPLM autocharts @ http://t.co/hj7PGeTQk3
US_proptrader
21 Oct 14 11:19:37
$ACHN $AEGR $BABA $DRYS $LPI $MNI $NLNK $SPWR $TPLM autocharts @ http://t.co/hj7PGeTQk3
US_proptrader
20 Oct 14 09:18:09
$CELG $CLF $ESI $EXXI $HK $KOG $OAS $SCTY $TPLM autocharts @ http://t.co/hj7PGeTQk3
HotKeyTrading
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
HotKeyTrading
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
HotKeyTrading
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
HotKeyTrading
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
HotKeyTrading
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
equities.com
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%],
4-traders.com
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
NASDAQ
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
TRIANGLE PETROLEUM CORP $TPLM 8-K now available
equities.com
16 Oct 14 22:58:29
Triangle Petroleum (TPLM) Jumps 9.01% on October 16 $TPLM http://t.co/B8IVOeNl0B
equities.com
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
US_proptrader
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 11:09:08
RT @7DustOldHead: @TravisMKnight $SLCA $TPLM $KOG :)!!!!
Gotham City Capital
16 Oct 14 10:52:58
$TPLM What A Bounce!! Amazing.. http://t.co/eRIAryPUK0
US_proptrader
16 Oct 14 10:33:56
$EOX $HZNP $KERX $REXX $SPWR $SRPT $TIVO $TPLM $TQNT autocharts @ http://t.co/hj7PGeTQk3
Dan
16 Oct 14 10:00:35
@TravisMKnight $SLCA $TPLM $KOG :)!!!!
Alexander Morris
16 Oct 14 08:48:03
$TPLM: 3mRunaway+:2 [+6%,.4%offHi], 0NearHi, PrvCHi, AtgPivH3, tf:0111111, FirmTrnd-:+75%; TLM:5.1; ILM:1.1, PrvClGap-[-5.0%],
fast eddy
16 Oct 14 06:42:11
$tplm out 8.34 +1.04
lavina
16 Oct 14 06:15:25
RT @StockEnigma: New post: 10/16 Watch List http://t.co/H7bScrridI $VSR $SZYM $NLNK $EXXI $OREX $BCRX $TPLM $XONE $HDS $ARIA
Trade Alerts
16 Oct 14 02:50:14
Day Trading Watch list for 16.10.2014part2 $CEQP $MDXG $FLEX $CY $APT $TPLM $PVA $VOXX $JASO $VSR $CPE $PKD $KEG $NBG
equities.com
16 Oct 14 02:18:04
Triangle Petroleum (TPLM) Hits New 52-week Low During October 15 Session $TPLM http://t.co/OL2tRNeQUO
Gotham City Capital
16 Oct 14 01:14:01
@TurboResearch Starting to see some bottoming signs in Oil.. Lots of huge rebounds also.. $COG $TPLM $EOG...
Jan
15 Oct 14 23:27:59
RT @BiotechMoney18: $EXXI $XCO $TPLM $AXAS $MTDR seeing some big pop on oil &gas names today. This is one of the sector I want in big when …
Scott McG
15 Oct 14 23:00:11
$MHR $GPOR $HK $TPLM If your looking for a reason to buy or hold check out this presentation. http://t.co/ffgJvBq00W
00Matt
15 Oct 14 22:18:28
New post: 10/16 Watch List http://t.co/H7bScrridI $VSR $SZYM $NLNK $EXXI $OREX $BCRX $TPLM $XONE $HDS $ARIA
Dan
15 Oct 14 20:52:20
@zerosum24 $RMTI $TWTR $TPLM
fast eddy
15 Oct 14 20:07:25
$tplm & cqp up big $$ in both will be selling them in the morning!
RationalInvestor
15 Oct 14 19:44:02
@zerosum24 most E&P stocks $CWEI $TPLM $CIE $XCO also $NSAM among the ones I follow
Gotham City Capital
15 Oct 14 19:39:34
RT @BiotechMoney18: $EXXI $XCO $TPLM $AXAS $MTDR seeing some big pop on oil &gas names today. This is one of the sector I want in big when …
Gotham City Capital
15 Oct 14 19:31:22
@actionjack2000 @SolarMelt almost grabbed a few $TPLM also but it popped off before I could grab it.. I'm long enough oil anyway ATM..
Gotham City Capital
15 Oct 14 19:20:22
@actionjack2000 @SolarMelt Short?? Hell no!! Look at this oversold plays!! Some went off.. $TPLM $MHR $WLL $CKH $AXAS $CVX $XOM
Gotham City Capital
15 Oct 14 19:13:10
RT @7DustOldHead: @TravisMKnight that's what I said with $TPLM ! Nice call on the Bakken plays
Gotham City Capital
15 Oct 14 19:07:05
$AXAS What A Nice Candle!! Love This One And $TPLM Today..
$$$ Money $$$
15 Oct 14 18:54:14
$EXXI $XCO $TPLM $AXAS $MTDR seeing some big pop on oil &gas names today. This is one of the sector I want in big when things settled.
equities.com
15 Oct 14 18:43:48
Triangle Petroleum (TPLM) Jumps 14.44% on October 15 $TPLM http://t.co/DHLm1VEOUS
12Stocks.com
15 Oct 14 16:03:52
Smallcap #Stocks Performance $PENX $EDMC $SZYM $XCO $SFY $VRNG $GDP $NLNK $EXXI $BNFT $OREX $TPLM $MXWL more@ http://t.co/Giravo3fg9
				
				
By  +Follow December 10, 2013 10:57AM
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