Teekay LNG Partners Beats on EPS but GAAP Results Lag
Teekay LNG Partners (NYS: TGP) reported earnings on Feb. 23. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended Dec. 31 (Q4), Teekay LNG Partners missed estimates on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue was unchanged and GAAP earnings per share dropped significantly.
Margins contracted across the board.
Teekay LNG Partners booked revenue of $97.3 million. The four analysts polled by S&P Capital IQ expected a top line of $99.9 million on the same basis. GAAP reported sales were 0.3% lower than the prior-year quarter's $97.5 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
Non-GAAP EPS came in at $0.47. The five earnings estimates compiled by S&P Capital IQ averaged $0.45 per share on the same basis. GAAP EPS of $0.64 for Q4 were 52% lower than the prior-year quarter's $1.33 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 76.9%, 130 basis points worse than the prior-year quarter. Operating margin was 46.2%, 100 basis points worse than the prior-year quarter. Net margin was 41.5%, 3,680 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $108.0 million. On the bottom line, the average EPS estimate is $0.45.
Next year's average estimate for revenue is $430.3 million. The average EPS estimate is $2.10.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 205 members out of 213 rating the stock outperform, and eight members rating it underperform. Among 65 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 63 give Teekay LNG Partners a green thumbs-up, and two give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Teekay LNG Partners is outperform, with an average price target of $38.29.
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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.
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