MarkWest Energy Partners
The 10-second takeaway
For the quarter ended Dec. 31 (Q4), MarkWest Energy Partners missed estimates on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue increased. GAAP earnings per share expanded.
Margins expanded across the board.
MarkWest Energy Partners booked revenue of $371.5 million. The six analysts polled by S&P Capital IQ predicted revenue of $400.0 million on the same basis. GAAP reported sales were 13% lower than the prior-year quarter's $424.8 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 $0.22. The eight earnings estimates compiled by S&P Capital IQ averaged $0.32 per share. GAAP EPS were $0.22 for Q4 compared to -$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.
For the quarter, gross margin was 59.4%, 290 basis points better than the prior-year quarter. Operating margin was 17.5%, much better than the prior-year quarter. Net margin was 8.6%, much better than the prior-year quarter.
Next quarter's average estimate for revenue is $330.8 million. On the bottom line, the average EPS estimate is $0.20.
Next year's average estimate for revenue is $1.33 billion. The average EPS estimate is $1.53.
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 $60.17.
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