Legacy Reserves Lp (Nasdaq: LGCY) reported earnings on Feb. 25. Here are the numbers you need to know.

The 10-second takeaway
 For the quarter ended Dec. 31 (Q4), Legacy Reserves Lp beat slightly on revenues and missed estimates on earnings per share.

Compared to the prior-year quarter, revenue increased. Non-GAAP earnings per share shrank significantly. GAAP earnings per share grew.

Gross margins contracted, operating margins grew, net margins grew.

Revenue details
 Legacy Reserves Lp logged revenue of $90.5 million. The nine analysts polled by S&P Capital IQ expected a top line of $89.2 million on the same basis. GAAP reported sales were the same as the prior-year quarter's.

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 $0.22. The 10 earnings estimates compiled by S&P Capital IQ predicted $0.39 per share. Non-GAAP EPS of $0.22 for Q4 were 61% lower than the prior-year quarter's $0.56 per share. GAAP EPS were $0.04 for Q4 against -$1.29 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 59.5%, 800 basis points worse than the prior-year quarter. Operating margin was 20.7%, much better than the prior-year quarter. Net margin was 2.1%, much better than the prior-year quarter.

Looking ahead
 Next quarter's average estimate for revenue is $114.9 million. On the bottom line, the average EPS estimate is $0.37.

Next year's average estimate for revenue is $463.1 million. The average EPS estimate is $1.53.

Investor sentiment
 The stock has a five-star rating (out of five) at Motley Fool CAPS, with 277 members out of 284 rating the stock outperform, and seven members rating it underperform. Among 91 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 90 give Legacy Reserves Lp 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 Legacy Reserves Lp is buy, with an average price target of $32.44.

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