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Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of Triangle Petroleum Corporation jumped as much as 11.5% today after reporting fiscal fourth quarter earnings.
So what: Fiscal 2014 revenue was up 270% to $358.8 million and adjusted EBITDA was up 381% to $156.3 million. A 295% jump in volumes to 5,286 barrels of oil per day drove the increase in revenue and EBITDA.
Now what: Revenue is slightly over what analysts were expecting, and earnings of $0.11 per share were actually a penny below estimates. Estimated net proved reserves did jump to 40,315 Mboe, which provides room to grow going forward. The results were decent, but management will have to prove its ability to grow in fiscal 2015, which is when size will be more of a challenge to overcome.
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The article Why Shares of Triangle Petroleum Corporation Popped Today originally appeared on Fool.com.
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