Eagle Rock Energy Partners Increases Sales but Misses Estimates on Earnings
Eagle Rock Energy Partners (NAS: EROC) reported earnings May 2. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended March 31 (Q1), Eagle Rock Energy Partners whiffed on revenues and missed expectations on earnings per share.
Compared to the prior-year quarter, revenue increased significantly and GAAP loss per share dropped.
Margins improved across the board.
Eagle Rock Energy Partners logged revenue of $225.8 million. The three analysts polled by S&P Capital IQ anticipated revenue of $273.0 million on the same basis. GAAP reported sales were 4.4% higher than the prior-year quarter's $216.3 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 -$0.39. The three earnings estimates compiled by S&P Capital IQ anticipated $0.11 per share. GAAP EPS were -$0.39 for Q1 versus -$0.61 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 30.2%, 730 basis points better than the prior-year quarter. Operating margin was 3.1%, 2,620 basis points better than the prior-year quarter. Net margin was -22.3%, 250 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $272.1 million. On the bottom line, the average EPS estimate is $0.09.
Next year's average estimate for revenue is $1.15 billion. The average EPS estimate is $0.40.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 534 members out of 546 rating the stock outperform, and 12 members rating it underperform. Among 173 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 170 give Eagle Rock Energy Partners 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 Eagle Rock Energy Partners is outperform, with an average price target of $13.33.
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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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