Boardwalk Pipeline Partners
The 10-second takeaway
For the quarter ended June 30 (Q2), Boardwalk Pipeline Partners missed slightly on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue improved and GAAP earnings per share improved significantly.
Margins grew across the board.
Boardwalk Pipeline Partners chalked up revenue of $275.8 million. The 10 analysts polled by S&P Capital IQ looked for a top line of $280.7 million on the same basis. GAAP reported sales were 5.3% higher than the prior-year quarter's $262.0 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 $0.37. The 12 earnings estimates compiled by S&P Capital IQ forecast $0.25 per share. GAAP EPS of $0.31 for Q2 were much higher than the prior-year quarter's $0.05 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 79.2%, 600 basis points better than the prior-year quarter. Operating margin was 40.2%, 960 basis points better than the prior-year quarter. Net margin was 23.6%, 1,780 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $288.4 million. On the bottom line, the average EPS estimate is $0.27.
Next year's average estimate for revenue is $1.21 billion. The average EPS estimate is $1.36.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 413 members out of 433 rating the stock outperform, and 20 members rating it underperform. Among 142 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 138 give Boardwalk Pipeline Partners a green thumbs-up, and four give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Boardwalk Pipeline Partners is hold, with an average price target of $29.46.
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