Crosstex Energy Whiffs on Revenues
Crosstex Energy (NAS: XTXI) reported earnings on Nov. 9. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended Sep. 30 (Q3), Crosstex Energy whiffed on revenues and missed expectations on earnings per share.
Compared to the prior-year quarter, revenue dropped significantly and GAAP loss per share grew.
Gross margins grew, operating margins dropped, net margins dropped.
Crosstex Energy chalked up revenue of $407.0 million. The two analysts polled by S&P Capital IQ predicted a top line of $482.8 million on the same basis. GAAP reported sales were 21% lower than the prior-year quarter's $517.5 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 -$0.09. The one earnings estimate compiled by S&P Capital IQ predicted -$0.02 per share. GAAP EPS were -$0.09 for Q3 against -$0.04 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 15.8%, 370 basis points better than the prior-year quarter. Operating margin was 0.2%, 290 basis points worse than the prior-year quarter. Net margin was -1.1%, 80 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $455.0 million. On the bottom line, the average EPS estimate is -$0.02.
Next year's average estimate for revenue is $1.59 billion. The average EPS estimate is -$0.10.
The stock has a two-star rating (out of five) at Motley Fool CAPS, with 303 members out of 339 rating the stock outperform, and 36 members rating it underperform. Among 99 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 87 give Crosstex Energy a green thumbs-up, and 12 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Crosstex Energy is hold, with an average price target of $15.75.
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The article Crosstex Energy Whiffs on Revenues 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. TMFDisclosureHere