Boardwalk Pipeline Partners
The 10-second takeaway
For the quarter ended Sep. 30 (Q3), Boardwalk Pipeline Partners missed estimates on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue increased slightly and GAAP earnings per share expanded significantly.
Margins expanded across the board.
Boardwalk Pipeline Partners reported revenue of $270.6 million. The 11 analysts polled by S&P Capital IQ predicted sales of $288.6 million on the same basis. GAAP reported sales were 0.6% higher than the prior-year quarter's $268.9 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 $0.31. The 13 earnings estimates compiled by S&P Capital IQ predicted $0.27 per share. GAAP EPS of $0.26 for Q3 were 30% higher than the prior-year quarter's $0.20 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 78.7%, 570 basis points better than the prior-year quarter. Operating margin was 38.8%, 640 basis points better than the prior-year quarter. Net margin was 21.8%, 420 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $340.7 million. On the bottom line, the average EPS estimate is $0.39.
Next year's average estimate for revenue is $1.21 billion. The average EPS estimate is $1.33.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 444 members out of 465 rating the stock outperform, and 21 members rating it underperform. Among 162 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 159 give Boardwalk Pipeline Partners a green thumbs-up, and three give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Boardwalk Pipeline Partners is hold, with an average price target of $29.33.
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