Vanguard Natural Resources (NYSE: VNR) reported earnings on March 1. Here are the numbers you need to know.

The 10-second takeaway
 For the quarter ended Dec. 31 (Q4), Vanguard Natural Resources beat expectations on revenues and missed estimates on earnings per share.

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

Gross margins grew, operating margins dropped, net margins dropped.

Revenue details
 Vanguard Natural Resources chalked up revenue of $110.7 million. The six analysts polled by S&P Capital IQ predicted a top line of $93.1 million on the same basis. GAAP reported sales were 29% higher than the prior-year quarter's $86.0 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 $0.27. The 11 earnings estimates compiled by S&P Capital IQ predicted $0.34 per share. Non-GAAP EPS of $0.27 for Q4 were 64% lower than the prior-year quarter's $0.76 per share. GAAP EPS were -$3.41 for Q4 versus -$0.42 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 74.9%, 660 basis points better than the prior-year quarter. Operating margin was -166.8%, much worse than the prior-year quarter. Net margin was -182.1%, much worse than the prior-year quarter.

Looking ahead
 Next quarter's average estimate for revenue is $113.5 million. On the bottom line, the average EPS estimate is $0.30.

Next year's average estimate for revenue is $451.9 million. The average EPS estimate is $1.33.

Investor sentiment
 The stock has a five-star rating (out of five) at Motley Fool CAPS, with 259 members out of 271 rating the stock outperform, and 12 members rating it underperform. Among 60 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 58 give Vanguard Natural Resources a green thumbs-up, and two give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Vanguard Natural Resources is buy, with an average price target of $32.67.

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