MarkWest Energy Partners
The 10-second takeaway
For the quarter ended Sep. 30 (Q3), MarkWest Energy Partners whiffed on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue shrank significantly and GAAP earnings per share shrank to a loss.
Gross margins grew, operating margins dropped, net margins contracted.
MarkWest Energy Partners recorded revenue of $283.7 million. The six analysts polled by S&P Capital IQ anticipated revenue of $336.0 million on the same basis. GAAP reported sales were 29% lower than the prior-year quarter's $400.9 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 $0.13. The six earnings estimates compiled by S&P Capital IQ predicted $0.34 per share. GAAP EPS were -$0.13 for Q3 against $1.77 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 57.9%, 510 basis points better than the prior-year quarter. Operating margin was 3.6%, 4,830 basis points worse than the prior-year quarter. Net margin was -5.1%, 4,010 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $364.3 million. On the bottom line, the average EPS estimate is $0.34.
Next year's average estimate for revenue is $1.48 billion. The average EPS estimate is $1.76.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on MarkWest Energy Partners is outperform, with an average price target of $59.70.
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