DCP Midstream Partners
The 10-second takeaway
For the quarter ended June 30 (Q2), DCP Midstream Partners missed estimates on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue increased and GAAP earnings per share increased significantly.
Margins increased across the board.
DCP Midstream Partners booked revenue of $413.7 million. The seven analysts polled by S&P Capital IQ predicted net sales of $437.7 million on the same basis. GAAP reported sales were 14% higher than the prior-year quarter's $361.6 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 $0.08. The six earnings estimates compiled by S&P Capital IQ predicted $0.19 per share. GAAP EPS of $1.33 for Q2 were 66% higher than the prior-year quarter's $0.80 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 26.5%, 840 basis points better than the prior-year quarter. Operating margin was 21.6%, 790 basis points better than the prior-year quarter. Net margin was 19.1%, 930 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $414.1 million. On the bottom line, the average EPS estimate is $0.21.
Next year's average estimate for revenue is $1.96 billion. The average EPS estimate is $1.53.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 210 members out of 221 rating the stock outperform, and 11 members rating it underperform. Among 73 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 71 give DCP Midstream Partners 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 DCP Midstream Partners is outperform, with an average price target of $49.82.
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