El Paso Pipeline Partners (NYSE: EPB) reported earnings on May 3. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended March 31 (Q1), El Paso Pipeline Partners missed estimates on revenues and whiffed on earnings per share.

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

Gross margins dropped, operating margins dropped, and net margins expanded.

Revenue details
El Paso Pipeline Partners booked revenue of $363.0 million. The six analysts polled by S&P Capital IQ looked for sales of $388.0 million on the same basis. GAAP reported sales were 0.8% lower than the prior-year quarter's $366.0 million.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
EPS came in at $0.54. The 13 earnings estimates compiled by S&P Capital IQ predicted $0.61 per share. GAAP EPS of $0.54 for Q1 were 16% lower than the prior-year quarter's $0.64 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Margin details
For the quarter, gross margin was 73.8%, 110 basis points worse than the prior-year quarter. Operating margin was 56.7%, 230 basis points worse than the prior-year quarter. Net margin was 37.2%, 580 basis points better than the prior-year quarter.

Looking ahead
Next quarter's average estimate for revenue is $363.9 million. On the bottom line, the average EPS estimate is $0.51.

Next year's average estimate for revenue is $1.54 billion. The average EPS estimate is $2.15.

Investor sentiment
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 259 members out of 264 rating the stock outperform, and five members rating it underperform. Among 71 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 69 give El Paso Pipeline Partners a green thumbs-up, and two give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on El Paso Pipeline Partners is outperform, with an average price target of $38.25.

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