DCP Midstream Partners
The 10-second takeaway
For the quarter ended Sep. 30 (Q3), DCP Midstream Partners whiffed on revenues and missed expectations on earnings per share.
Compared to the prior-year quarter, revenue dropped and GAAP earnings per share shrank to a loss.
Margins contracted across the board.
DCP Midstream Partners reported revenue of $330.9 million. The seven analysts polled by S&P Capital IQ expected revenue of $423.8 million on the same basis. GAAP reported sales were 0.1% lower than the prior-year quarter's $331.2 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 -$0.16. The eight earnings estimates compiled by S&P Capital IQ predicted $0.34 per share. GAAP EPS were -$0.16 for Q3 versus $1.35 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 8.2%, 460 basis points worse than the prior-year quarter. Operating margin was 0.4%, 1,910 basis points worse than the prior-year quarter. Net margin was 0.4%, 1,760 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $556.6 million. On the bottom line, the average EPS estimate is $0.58.
Next year's average estimate for revenue is $1.86 billion. The average EPS estimate is $1.75.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 213 members out of 224 rating the stock outperform, and 11 members rating it underperform. Among 72 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 71 give DCP Midstream Partners a green thumbs-up, and one 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 $48.32.
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