Piedmont Natural Gas
The 10-second takeaway
For the quarter ended April 30 (Q2), Piedmont Natural Gas crushed expectations on revenues and met expectations on earnings per share.
Compared to the prior-year quarter, revenue grew significantly. GAAP earnings per share grew.
Margins contracted across the board.
Piedmont Natural Gas notched revenue of $399.4 million. The four analysts polled by S&P Capital IQ looked for revenue of $328.9 million on the same basis. GAAP reported sales were 29% higher than the prior-year quarter's $308.4 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.74. The seven earnings estimates compiled by S&P Capital IQ predicted $0.73 per share. GAAP EPS of $0.74 for Q2 were 5.7% higher than the prior-year quarter's $0.70 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 29.7%, 640 basis points worse than the prior-year quarter. Operating margin was 20.8%, 410 basis points worse than the prior-year quarter. Net margin was 14.0%, 230 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $168.4 million. On the bottom line, the average EPS estimate is -$0.07.
Next year's average estimate for revenue is $1.22 billion. The average EPS estimate is $1.72.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 172 members out of 188 rating the stock outperform, and 16 members rating it underperform. Among 44 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 41 give Piedmont Natural Gas 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 Piedmont Natural Gas is hold, with an average price target of $32.50.
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