Atlas Pipeline Partners
The 10-second takeaway
For the quarter ended June 30 (Q2), Atlas Pipeline Partners beat slightly on revenues and crushed expectations on earnings per share.
Compared to the prior-year quarter, revenue shrank and GAAP earnings per share increased significantly.
Margins grew across the board.
Atlas Pipeline Partners recorded revenue of $324.1 million. The three analysts polled by S&P Capital IQ foresaw revenue of $320.4 million on the same basis. GAAP reported sales were 4.8% lower than the prior-year quarter's $340.6 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 $1.30. The five earnings estimates compiled by S&P Capital IQ predicted $0.23 per share. GAAP EPS of $1.30 for Q2 were much higher than the prior-year quarter's $0.13 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 35.2%, 1,970 basis points better than the prior-year quarter. Operating margin was 25.4%, 1,800 basis points better than the prior-year quarter. Net margin was 22.8%, 2,070 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $354.4 million. On the bottom line, the average EPS estimate is $0.33.
Next year's average estimate for revenue is $1.39 billion. The average EPS estimate is $1.16.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Atlas Pipeline Partners is outperform, with an average price target of $41.25.
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