Western Refining (NYSE: WNR) is expected to report Q1 earnings on May 2. Here's what Wall Street wants to see:

The 10-second takeaway
Comparing the upcoming quarter to the prior-year quarter, average analyst estimates predict Western Refining's revenues will decrease -8.2% and EPS will grow 14.8%.

The average estimate for revenue is $2.15 billion. On the bottom line, the average EPS estimate is $0.93.

Revenue details
Last quarter, Western Refining notched revenue of $2.25 billion. GAAP reported sales were 1.2% lower than the prior-year quarter's $2.28 billion.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
Last quarter, non-GAAP EPS came in at $1.45. GAAP EPS were $1.92 for Q4 versus -$0.71 per share for the prior-year quarter.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Recent performance
For the preceding quarter, gross margin was 17.8%, 290 basis points worse than the prior-year quarter. Operating margin was 15.2%, 280 basis points worse than the prior-year quarter. Net margin was 9.2%, much better than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $9.78 billion. The average EPS estimate is $4.46.

Investor sentiment
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 1,089 members out of 1,142 rating the stock outperform, and 53 members rating it underperform. Among 245 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 236 give Western Refining a green thumbs-up, and nine give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Western Refining is outperform, with an average price target of $32.44.

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