The 10-second takeaway
For the quarter ended June 30 (Q2), Crosstex Energy whiffed on revenues and missed expectations on earnings per share.
Compared to the prior-year quarter, revenue dropped significantly and GAAP loss per share grew.
Gross margins increased, operating margins grew, net margins contracted.
Crosstex Energy reported revenue of $351.2 million. The two analysts polled by S&P Capital IQ looked for revenue of $516.9 million on the same basis. GAAP reported sales were 38% lower than the prior-year quarter's $565.2 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 -$0.03. The one earnings estimate compiled by S&P Capital IQ predicted -$0.01 per share. GAAP EPS were -$0.04 for Q2 versus -$0.02 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 17.0%, 490 basis points better than the prior-year quarter. Operating margin was 5.1%, 120 basis points better than the prior-year quarter. Net margin was -0.5%, 30 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $562.7 million. On the bottom line, the average EPS estimate is -$0.02.
Next year's average estimate for revenue is $1.91 billion. The average EPS estimate is -$0.08.
The stock has a two-star rating (out of five) at Motley Fool CAPS, with 307 members out of 356 rating the stock outperform, and 49 members rating it underperform. Among 105 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 87 give Crosstex Energy a green thumbs-up, and 18 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Crosstex Energy is hold, with an average price target of $18.00.
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