Spectra Energy (NYSE: SE) reported earnings on May 9. Here are the numbers you need to know.

The 10-second takeaway
 For the quarter ended March 31 (Q1), Spectra Energy missed estimates on revenues and missed estimates on earnings per share.

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

Gross margins increased, operating margins dropped, net margins contracted.

Revenue details
 Spectra Energy reported revenue of $1.54 billion. The five analysts polled by S&P Capital IQ anticipated revenue of $1.62 billion on the same basis. GAAP reported sales were 4.2% lower than the prior-year quarter's $1.61 billion.

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 $0.51. The 12 earnings estimates compiled by S&P Capital IQ averaged $0.52 per share. GAAP EPS of $0.51 for Q1 were 7.3% lower than the prior-year quarter's $0.55 per share. (The prior-year quarter included $0.01 per share in earnings from discontinued operations.)

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 51.2%, 80 basis points better than the prior-year quarter. Operating margin was 33.5%, 80 basis points worse than the prior-year quarter. Net margin was 21.6%, 50 basis points worse than the prior-year quarter.

Looking ahead
 Next quarter's average estimate for revenue is $1.20 billion. On the bottom line, the average EPS estimate is $0.42.

Next year's average estimate for revenue is $5.62 billion. The average EPS estimate is $1.82.

Investor sentiment
 The stock has a four-star rating (out of five) at Motley Fool CAPS, with 812 members out of 840 rating the stock outperform, and 28 members rating it underperform. Among 233 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 228 give Spectra Energy a green thumbs-up, and five give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Spectra Energy is outperform, with an average price target of $33.33.

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