Atlas Pipeline Partners Goes Red

Atlas Pipeline Partners (NYSE: APL  ) reported earnings on Oct. 31. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended Sep. 30 (Q3), Atlas Pipeline Partners whiffed on revenues and missed expectations on earnings per share.

Compared to the prior-year quarter, revenue contracted significantly and GAAP earnings per share dropped to a loss.

Margins contracted across the board.

Revenue details
Atlas Pipeline Partners booked revenue of $277.6 million. The four analysts polled by S&P Capital IQ foresaw sales of $314.6 million on the same basis. GAAP reported sales were 21% lower than the prior-year quarter's $353.2 million.

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

EPS details
EPS came in at -$0.17. The seven earnings estimates compiled by S&P Capital IQ forecast $0.25 per share. GAAP EPS were -$0.17 for Q3 versus $0.87 per share for the prior-year quarter.

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

Margin details
For the quarter, gross margin was 13.4%, 260 basis points worse than the prior-year quarter. Operating margin was 0.7%, 720 basis points worse than the prior-year quarter. Net margin was -2.8%, 1,650 basis points worse than the prior-year quarter.

Looking ahead
Next quarter's average estimate for revenue is $392.8 million. On the bottom line, the average EPS estimate is $0.33.

Next year's average estimate for revenue is $1.23 billion. The average EPS estimate is $1.74.

Investor sentiment

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Atlas Pipeline Partners is outperform, with an average price target of $39.60.

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Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. The Motley Fool has no positions in the stocks mentioned above. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.


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