Spectra Energy Partners Misses on Revenue but Beats on EPS
Spectra Energy Partners (NYS: SEP) reported earnings on May 4. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended March 31 (Q1), Spectra Energy Partners missed estimates on revenue and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue improved significantly and GAAP earnings per share increased.
Gross margin shrank, operating margin improved, and net margin dropped.
Spectra Energy Partners reported revenue of $61.9 million. The six analysts polled by S&P Capital IQ anticipated sales of $64.2 million on the same basis. GAAP-reported sales were 21% higher than the prior-year quarter's $51.2 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 13 earnings estimates compiled by S&P Capital IQ forecast $0.46 per share. GAAP EPS of $0.54 for Q1 were 8.0% higher than the prior-year quarter's $0.50 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 53.5%, 1,720 basis points worse than the prior-year quarter. Operating margin was 53.5%, 450 basis points better than the prior-year quarter. Net margin was 84.7%, 1,080 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $58.8 million. On the bottom line, the average EPS estimate is $0.39.
Next year's average estimate for revenue is $257.1 million. The average EPS estimate is $1.70.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Spectra Energy Partners is hold, with an average price target of $32.46.
Can your retirement portfolio provide you with enough income to last? You'll need more than Spectra Energy Partners. Learn about crafting a smarter retirement plan in "The Shocking Can't-Miss Truth About Your Retirement." Click here for instant access to this free report.
- Add Spectra Energy Partners to My Watchlist.
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.
Copyright © 1995 - 2012 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.