TC Pipelines Whiffs on Revenues
TC Pipelines (NYS: TCP) reported earnings on Feb. 16. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended Dec. 31 (Q4), TC Pipelines whiffed on revenues and missed expectations on earnings per share.
Compared to the prior-year quarter, revenue improved and GAAP earnings per share dropped.
Margins dropped across the board.
TC Pipelines booked revenue of $54.9 million. The three analysts polled by S&P Capital IQ foresaw revenue of $64.3 million on the same basis. GAAP reported sales were 6.6% higher than the prior-year quarter's $51.5 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.70. The 11 earnings estimates compiled by S&P Capital IQ predicted $0.72 per share. GAAP EPS of $0.70 for Q4 were 11% lower than the prior-year quarter's $0.79 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 91.4%, 240 basis points worse than the prior-year quarter. Operating margin was 82.9%, 140 basis points worse than the prior-year quarter. Net margin was 69.8%, 220 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $57.0 million. On the bottom line, the average EPS estimate is $0.82.
Next year's average estimate for revenue is $260.5 million. The average EPS estimate is $2.93.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 152 members out of 164 rating the stock outperform, and 12 members rating it underperform. Among 59 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 56 give TC Pipelines a green thumbs-up, and three give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on TC Pipelines is hold, with an average price target of $49.28.
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At the time this article was published Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor ofMotley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.