Ferrellgas Partners (NYSE: FGP) reported earnings on March 7. Here are the numbers you need to know.

The 10-second takeaway
 For the quarter ended Jan. 31 (Q2), Ferrellgas Partners beat expectations on revenues and missed estimates on earnings per share.

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

Margins grew across the board.

Revenue details
 Ferrellgas Partners reported revenue of $658.9 million. The four analysts polled by S&P Capital IQ predicted revenue of $633.5 million on the same basis. GAAP reported sales were 21% lower than the prior-year quarter's $829.3 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 $0.74. The seven earnings estimates compiled by S&P Capital IQ forecast $0.81 per share. Non-GAAP EPS of $0.74 for Q2 were 57% higher than the prior-year quarter's $0.47 per share. GAAP EPS of $0.70 for Q2 were 49% higher than the prior-year quarter's $0.47 per share.

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 35.7%, much better than the prior-year quarter. Operating margin was 12.8%, 530 basis points better than the prior-year quarter. Net margin was 8.4%, 410 basis points better than the prior-year quarter. (Margins calculated in GAAP terms.)

Looking ahead
 Next quarter's average estimate for revenue is $530.2 million. On the bottom line, the average EPS estimate is $0.41.

Next year's average estimate for revenue is $1.90 billion. The average EPS estimate is $0.63.

Investor sentiment
 The stock has a two-star rating (out of five) at Motley Fool CAPS, with 124 members out of 174 rating the stock outperform, and 50 members rating it underperform. Among 45 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 29 give Ferrellgas Partners a green thumbs-up, and 16 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Ferrellgas Partners is underperform, with an average price target of $14.08.

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