Western Gas Partners Beats on Revenue, Matches Expectations on EPS
Western Gas Partners (NYS: WES) reported earnings on May 2. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended March 31 (Q1), Western Gas Partners beat expectations on revenues and met expectations on earnings per share.
Compared with the prior-year quarter, revenue expanded significantly and GAAP earnings per share grew.
Margins shrank across the board.
Western Gas Partners logged revenue of $212.2 million. The seven analysts polled by S&P Capital IQ foresaw revenue of $204.8 million on the same basis. GAAP reported sales were 56% higher than the prior-year quarter's $136.0 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 $0.48. The 12 earnings estimates compiled by S&P Capital IQ anticipated $0.48 per share. GAAP EPS of $0.48 for Q1 were 12% higher than the prior-year quarter's $0.43 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 46.7%, 350 basis points worse than the prior-year quarter. Operating margin was 27.3%, 70 basis points worse than the prior-year quarter. Net margin was 22.7%, 300 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $212.6 million. On the bottom line, the average EPS estimate is $0.47.
Next year's average estimate for revenue is $869.1 million. The average EPS estimate is $1.89.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 251 members out of 255 rating the stock outperform, and four members rating it underperform. Among 72 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 72 give Western Gas Partners a green thumbs-up, and give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Western Gas Partners is outperform, with an average price target of $48.64.
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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. He is the 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 don't 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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