Pioneer Southwest Energy Partners (NYSE: PSE) reported earnings on May 1. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended March 31 (Q1), Pioneer Southwest Energy Partners beat expectations on revenues and missed estimates on earnings per share.

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

Gross margins contracted, operating margins expanded, net margins increased.

Revenue details
Pioneer Southwest Energy Partners reported revenue of $47.7 million. The four analysts polled by S&P Capital IQ expected revenue of $44.4 million on the same basis. GAAP reported sales were 6.0% lower than the prior-year quarter's $50.7 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 $0.46. The six earnings estimates compiled by S&P Capital IQ predicted $0.49 per share. Non-GAAP EPS of $0.46 for Q1 were 26% lower than the prior-year quarter's $0.62 per share. GAAP EPS of $0.48 for Q1 were 26% higher than the prior-year quarter's $0.38 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 61.7%, 920 basis points worse than the prior-year quarter. Operating margin was 38.2%, 960 basis points better than the prior-year quarter. Net margin was 36.0%, 930 basis points better than the prior-year quarter. (Margins calculated in GAAP terms.)

Looking ahead
Next quarter's average estimate for revenue is $47.0 million. On the bottom line, the average EPS estimate is $0.52.

Next year's average estimate for revenue is $192.4 million. The average EPS estimate is $2.15.

Investor sentiment
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 176 members out of 186 rating the stock outperform, and 10 members rating it underperform. Among 57 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 54 give Pioneer Southwest Energy Partners a green thumbs-up, and three give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Pioneer Southwest Energy Partners is hold, with an average price target of $26.33.

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