Regency Energy Partners (NYSE: RGP) is expected to report Q2 earnings on Aug. 7. Here's what Wall Street wants to see:

The 10-second takeaway
Comparing the upcoming quarter to the prior-year quarter, average analyst estimates predict Regency Energy Partners' revenues will improve 7.4% and EPS will wither -30.0%.

The average estimate for revenue is $382.9 million. On the bottom line, the average EPS estimate is $0.07.

Revenue details
Last quarter, Regency Energy Partners reported revenue of $357.9 million. GAAP reported sales were 13% higher than the prior-year quarter's $319.0 million.

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

EPS details
Last quarter, non-GAAP EPS came in at $0.13. GAAP EPS of $0.14 for Q1 were 100% higher than the prior-year quarter's $0.07 per share.

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

Recent performance
For the preceding quarter, gross margin was 21.8%, 20 basis points better than the prior-year quarter. Operating margin was 4.0%, 150 basis points better than the prior-year quarter. Net margin was 7.9%, 350 basis points better than the prior-year quarter.

Looking ahead
The full year's average estimate for revenue is $1.57 billion. The average EPS estimate is $0.37.

Investor sentiment

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Regency Energy Partners is outperform, with an average price target of $28.86.

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