Suburban Propane Partners Whiffs on Revenues
Suburban Propane Partners (NYS: SPH) reported earnings on May 3. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended March 24 (Q2), Suburban Propane Partners whiffed on revenues and whiffed on earnings per share.
Compared to the prior-year quarter, revenue dropped significantly and GAAP earnings per share dropped significantly.
Margins contracted across the board.
Suburban Propane Partners reported revenue of $357.6 million. The five analysts polled by S&P Capital IQ predicted revenue of $440.4 million on the same basis. GAAP reported sales were 23% lower than the prior-year quarter's $464.1 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 $1.46. The six earnings estimates compiled by S&P Capital IQ averaged $2.26 per share. GAAP EPS of $1.38 for Q2 were 51% lower than the prior-year quarter's $2.81 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 21.8%, 580 basis points worse than the prior-year quarter. Operating margin was 15.7%, 780 basis points worse than the prior-year quarter. Net margin was 13.9%, 770 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $207.6 million. On the bottom line, the average EPS estimate is -$0.16.
Next year's average estimate for revenue is $1.06 billion. The average EPS estimate is $1.56.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Suburban Propane Partners is hold, with an average price target of $45.25.
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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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