Piedmont Natural Gas
The 10-second takeaway
For the quarter ended July 31 (Q3), Piedmont Natural Gas whiffed on revenues and exceeded expectations on earnings per share.
Compared to the prior-year quarter, revenue dropped significantly and GAAP loss per share shrank.
Gross margins improved, operating margins shrank, net margins expanded.
Piedmont Natural Gas reported revenue of $161.1 million. The three analysts polled by S&P Capital IQ wanted to see a top line of $189.8 million on the same basis. GAAP reported sales were 18% lower than the prior-year quarter's $197.3 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 -$0.06. The five earnings estimates compiled by S&P Capital IQ forecast -$0.09 per share. GAAP EPS were -$0.06 for Q3 compared to -$0.12 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 16.9%, 240 basis points better than the prior-year quarter. Operating margin was -4.1%, 70 basis points worse than the prior-year quarter. Net margin was -2.9%, 150 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $196.0 million. On the bottom line, the average EPS estimate is -$0.08.
Next year's average estimate for revenue is $1.14 billion. The average EPS estimate is $1.59.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 173 members out of 188 rating the stock outperform, and 15 members rating it underperform. Among 56 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 54 give Piedmont Natural Gas 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 Piedmont Natural Gas is hold, with an average price target of $30.67.
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