MarkWest Energy Partners Increases Sales but Misses Estimates on Earnings
MarkWest Energy Partners (NYS: MWE) reported earnings on Aug. 2. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended June 30 (Q2), MarkWest Energy Partners crushed expectations on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue expanded and GAAP earnings per share increased significantly.
Margins expanded across the board.
MarkWest Energy Partners recorded revenue of $446.1 million. The four analysts polled by S&P Capital IQ anticipated revenue of $350.5 million on the same basis. GAAP reported sales were 24% higher than the prior-year quarter's $359.8 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 $0.24. The six earnings estimates compiled by S&P Capital IQ forecast $0.38 per share. GAAP EPS of $1.47 for Q2 were 43% higher than the prior-year quarter's $1.03 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 75.4%, 1,840 basis points better than the prior-year quarter. Operating margin was 58.3%, 2,060 basis points better than the prior-year quarter. Net margin was 41.9%, 2,010 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $347.9 million. On the bottom line, the average EPS estimate is $0.38.
Next year's average estimate for revenue is $1.49 billion. The average EPS estimate is $1.69.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on MarkWest Energy Partners is buy, with an average price target of $62.13.
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The article MarkWest Energy Partners Increases Sales but Misses Estimates on Earnings originally appeared on Fool.com.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. The Motley Fool has no positions in the stocks mentioned above. 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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