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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. To read our full disclosure, please go to: http://www.equities.com/disclaimer


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Results for TPLM
WatchTheFunds
1 Jul 15 17:36:03
$TPLM Institutional ownership up 17.98% Q/Q, with 12,017,400 net purchase http://t.co/m7SwrufO89 http://t.co/WiGVhAw0Fu
ProTradersNews
1 Jul 15 15:15:02
$TPLM: New Insider Transaction on TPLM by 10%+ Owner: http://t.co/F66H55tL1X
Insider Alerts
1 Jul 15 15:14:06
NEW insider transaction on $TPLM reported a moment ago: http://t.co/fKdv6YB5AW
Stocks News&Markets
1 Jul 15 15:13:02
$TPLM - Statement of Changes in Beneficial Ownership (4) http://t.co/PoMmehL9j7
SmallCaps
1 Jul 15 09:51:05
Fous4x2 DVD review: http://t.co/RQiLZwZ9an $EFA $VNR $COG $TPLM $CLC $BXE.CA $VMW $XLB $MOBL $WEC
Harry Walkman
30 Jun 15 14:41:27
$TPLM Triangle Petroleum Corporation Price Target Update http://t.co/oWJniZUrme
Samuel Brown
30 Jun 15 10:07:48
$TPLM Triangle Petroleum Corporation Price Target Update http://t.co/c7RAS2OWsc
Thomas Collins
30 Jun 15 10:07:44
$TPLM Company Shares of Triangle Petroleum Corporation Rally 3.58% http://t.co/VxN1BtwMdR
SmallCaps
30 Jun 15 09:27:05
Fous4x2 DVD review: http://t.co/RQiLZwZ9an $EFA $VNR $COG $TPLM $CLC $BXE.CA $VMW $XLB $MOBL $WEC
Stock Market Outlook
30 Jun 15 06:54:28
Bakken Update: Emerald Completes 90 Stage Frac In Stark County http://t.co/WbSR2jY0tN $CLR $MDU $OAS $OXY $TPLM $USO $WLL $EOX
Energy Stocks SA
30 Jun 15 06:54:27
Bakken Update: Emerald Completes 90 Stage Frac In Stark County http://t.co/WhouX9cCn5 $CLR $MDU $OAS $OXY $TPLM $USO $WLL $EOX
Seeking Alpha
30 Jun 15 06:54:26
Bakken Update: Emerald Completes 90 Stage Frac In Stark County http://t.co/pM4BZQHuBB $CLR $MDU $OAS $OXY $TPLM $USO $WLL $EOX
WatchTheFunds
30 Jun 15 00:46:02
$TPLM Institutional ownership up 17.98% Q/Q, with 12,017,400 net purchase http://t.co/m7SwruxoZH http://t.co/lG5tucHJkf
Wall Street
29 Jun 15 12:47:24
The Penny Stock Superstar team voted #1 OTC trading group. http://t.co/cQ0lLTokka Related: $BBEP $MHCC $FNFG $TPLM $AAWC
Wall Street
29 Jun 15 11:41:49
The Penny Stock Superstar team voted #1 OTC trading group. http://t.co/cQ0lLTokka Related: $BBEP $MHCC $FNFG $TPLM $AAWC
SmallCaps
28 Jun 15 22:53:44
Fous4x2 DVD review: http://t.co/RQiLZwZ9an $EFA $VNR $COG $TPLM $CLC $BXE.CA $VMW $XLB $MOBL $WEC
Wall Street
28 Jun 15 14:17:06
The Penny Stock Superstar team voted #1 OTC trading group. http://t.co/cQ0lLTokka Related: $BBEP $MHCC $FNFG $TPLM $AAWC
Wall Street
28 Jun 15 13:46:06
The Penny Stock Superstar team voted #1 OTC trading group. http://t.co/cQ0lLTokka Related: $BBEP $MHCC $FNFG $TPLM $AAWC
SmallCaps
27 Jun 15 20:51:02
Fous4x2 DVD review: http://t.co/RQiLZwZ9an $EFA $VNR $COG $TPLM $CLC $BXE.CA $VMW $XLB $MOBL $WEC
dailystockplays.com
27 Jun 15 05:32:55
Ichimoku Red http://t.co/NF3rpZxobI $SNTA $STRL $TPLM $BBG $SZYM $AMH $AREX $JASO $SFS $MMS $NJR $KRO $BTX $ESL $DEA $CBD $CISG $FXY
Peter Bardens
26 Jun 15 14:36:04
$TPLM Triangle Petroleum Corporation Price Target Update http://t.co/NEgABMlmDV
SADIF-Analytics
26 Jun 15 09:03:28
Triangle Petroleum Corporation $TPLM Has been analysed in a new due diligence report by SADIF. http://t.co/JU2ama5yaF
DailyStockPicks
26 Jun 15 07:18:31
$OCLS strong buy price target of $3 upgraded by Maxim. 100%+ upside $DISH $PCAR $MDVN $TPLM $VIP $AMBC investors read http://t.co/radWvLN7N8
SmallCaps
26 Jun 15 07:14:32
Fous4x2 DVD review: http://t.co/RQiLZwZ9an $EFA $VNR $COG $TPLM $CLC $BXE.CA $VMW $XLB $MOBL $WEC
WatchTheFunds
26 Jun 15 02:27:02
$TPLM Institutional ownership up 17.98% Q/Q, with 12,017,400 net purchase http://t.co/m7SwrufO89 http://t.co/1VxAXqLL7V
Sleek Money
26 Jun 15 00:05:29
Triangle Petroleum Short Interest Down 2.2% in June $TPLM http://t.co/ZmNXwKjd9S
ProTradersNews
25 Jun 15 23:57:04
$TPLM: Triangle Petroleum Short Interest Down 2.2% in June (TPLM): http://t.co/2t1oBaGlo7
Jeffrey Blake
25 Jun 15 15:31:50
$TPLM Canaccord Genuity Analyst Rating on Triangle Petroleum Corporation http://t.co/mUjbAYOgzg
Samuel Brown
25 Jun 15 15:31:44
$TPLM Triangle Petroleum Corporation Price Target Update http://t.co/tAEaj0y1p5
Jeffrey Blake
25 Jun 15 05:36:43
$TPLM Canaccord Genuity Analyst Rating on Triangle Petroleum Corporation http://t.co/GLkE7EspA4
SmallCaps
25 Jun 15 03:50:25
Fous4x2 DVD review: http://t.co/RQiLZxgKyX $EFA $VNR $COG $TPLM $CLC $BXE.CA $VMW $XLB $MOBL $WEC
BreakingStocksNews
25 Jun 15 01:29:20
$TPLM: Short Interest in Triangle Petroleum Drops By 2.2% (TPLM): http://t.co/4WlYXj27Dd
The Legacy News
25 Jun 15 01:27:45
Short Interest in Triangle Petroleum Drops By 2.2% $TPLM http://t.co/t09YrS4XzU
Dakota Financial
25 Jun 15 01:09:36
Triangle Petroleum Short Interest Down 2.2% in June $TPLM http://t.co/SztIqy9pKI
Ticker Report
25 Jun 15 00:59:22
Triangle Petroleum Short Interest Down 2.2% in June $TPLM http://t.co/DeuFh4rIQS
WatchTheFunds
23 Jun 15 17:14:03
$TPLM Institutional ownership up 17.98% Q/Q, with 12,017,400 net purchase http://t.co/m7SwrufO89 http://t.co/KIkRUspUM3
James P Worthy
23 Jun 15 13:33:51
$TPLM Canaccord Genuity Analyst Rating on Triangle Petroleum Corporation http://t.co/AvBUPfLniL
SmallCaps
23 Jun 15 09:27:43
Fous4x2 DVD review: http://t.co/RQiLZwZ9an $EFA $VNR $COG $TPLM $CLC $BXE.CA $VMW $XLB $MOBL $WEC
				
				
By  +Follow December 10, 2013 10:57AM
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