Crosstex Energy (Nasdaq: XTEX) is expected to report Q1 earnings on May 9. 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 Crosstex Energy's revenues will expand 31.0% and EPS will remain in the red.

The average estimate for revenue is $486.9 million. On the bottom line, the average EPS estimate is -$0.24.

Revenue details
 Last quarter, Crosstex Energy tallied revenue of $526.0 million. GAAP reported sales were 9.4% higher than the prior-year quarter's $480.9 million.

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 -$0.51. GAAP EPS were -$0.45 for Q4 compared to -$0.12 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 12.7%, 170 basis points worse than the prior-year quarter. Operating margin was 3.8%, 40 basis points worse than the prior-year quarter. Net margin was -4.7%, 440 basis points worse than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $2.13 billion. The average EPS estimate is -$0.76.

Investor sentiment
 The stock has a two-star rating (out of five) at Motley Fool CAPS, with 210 members out of 258 rating the stock outperform, and 48 members rating it underperform. Among 87 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 80 give Crosstex Energy a green thumbs-up, and seven give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Crosstex Energy is outperform, with an average price target of $17.57.

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