The 10-second takeaway
For the quarter ended March 31 (Q1), ONEOK Partners whiffed on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue increased and GAAP earnings per share expanded significantly.
Margins increased across the board.
ONEOK Partners reported revenue of $2.59 billion. The six analysts polled by S&P Capital IQ foresaw a top line of $3.13 billion on the same basis. GAAP reported sales were 3.8% higher than the prior-year quarter's $2.50 billion.
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 $0.91. The 14 earnings estimates compiled by S&P Capital IQ predicted $0.81 per share. GAAP EPS of $0.91 for Q1 were 57% higher than the prior-year quarter's $0.58 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 16.2%, 300 basis points better than the prior-year quarter. Operating margin was 9.9%, 280 basis points better than the prior-year quarter. Net margin was 9.2%, 320 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $3.1 billion. On the bottom line, the average EPS estimate is $0.74.
Next year's average estimate for revenue is $12.38 billion. The average EPS estimate is $2.93.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 629 members rating the stock outperform and 13 members rating it underperform. Among 228 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 225 give ONEOK Partners a green thumbs-up, and three give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on ONEOK Partners is hold, with an average price target of $59.59.
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