Piedmont Natural Gas
The 10-second takeaway
For the quarter ended April 30 (Q2), Piedmont Natural Gas whiffed on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue dropped significantly and GAAP earnings per share expanded.
Margins grew across the board.
Piedmont Natural Gas tallied revenue of $308.4 million. The two analysts polled by S&P Capital IQ expected revenue of $387.6 million on the same basis. GAAP reported sales were 21% lower than the prior-year quarter's $392.6 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 $0.70. The five earnings estimates compiled by S&P Capital IQ anticipated $0.72 per share. GAAP EPS of $0.70 for Q2 were 6.1% higher than the prior-year quarter's $0.66 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 36.1%, 710 basis points better than the prior-year quarter. Operating margin was 15.8%, 230 basis points better than the prior-year quarter. Net margin was 16.3%, 420 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $207.0 million. On the bottom line, the average EPS estimate is -$0.11.
Next year's average estimate for revenue is $1.18 billion. The average EPS estimate is $1.59.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 172 members out of 188 rating the stock outperform, and 16 members rating it underperform. Among 59 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 57 give Piedmont Natural Gas 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 Piedmont Natural Gas is hold, with an average price target of $30.71.
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