National Retail Properties Outruns Estimates Again

National Retail Properties (NYSE: NNN  ) reported earnings on Feb. 6. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended Dec. 31 (Q4), National Retail Properties beat expectations on revenues and earnings per share.

Compared to the prior-year quarter, revenue increased significantly and GAAP earnings per share expanded significantly.

Gross margins shrank, operating margins increased, and net margins expanded.

Revenue details
National Retail Properties reported revenue of $74.4 million. The nine analysts polled by S&P Capital IQ foresaw revenue of $70.9 million. Sales were 26% higher than the prior-year quarter's $59.4 million.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions.

EPS details
EPS came in at $0.26. The five earnings estimates compiled by S&P Capital IQ predicted $0.25 per share. GAAP EPS of $0.26 for Q4 were 86% higher than the prior-year quarter's $0.14 per share.

Source: S&P Capital IQ. Quarterly periods. Figures may be non-GAAP to maintain comparability with estimates.

Margin details
For the quarter, gross margin was 81.6%, 70 basis points worse than the prior-year quarter. Operating margin was 53.1%, 570 basis points better than the prior-year quarter. Net margin was 32.1%, 1,120 basis points better than the prior-year quarter.

Looking ahead
Next quarter's average estimate for revenue is $73.5 million. On the bottom line, the average EPS estimate is $0.25.

Next year's average estimate for revenue is $301.3 million. The average EPS estimate is $1.04.

Investor sentiment
The stock has a two-star rating (out of five) at Motley Fool CAPS, with 85 members out of 111 rating the stock outperform, and 26 members rating it underperform. Among 33 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 24 give National Retail Properties a green thumbs-up, and nine give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on National Retail Properties is outperform, with an average price target of $27.63.

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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 of Motley 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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