Enbridge Energy Partners (NYSE: EEP ) reported earnings on July 30. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended June 30 (Q2), Enbridge Energy Partners missed estimates on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue expanded. Non-GAAP earnings per share dropped significantly. GAAP earnings per share shrank significantly.
Margins shrank across the board.
Enbridge Energy Partners notched revenue of $1.67 billion. The six analysts polled by S&P Capital IQ anticipated a top line of $1.75 billion on the same basis. GAAP reported sales were 7.8% higher than the prior-year quarter's $1.55 billion.
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 $0.13. The 13 earnings estimates compiled by S&P Capital IQ predicted $0.22 per share. Non-GAAP EPS of $0.13 for Q2 were 43% lower than the prior-year quarter's $0.23 per share. GAAP EPS of $0.18 for Q2 were 50% lower than the prior-year quarter's $0.36 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 31.6%, 310 basis points worse than the prior-year quarter. Operating margin was 12.5%, 190 basis points worse than the prior-year quarter. Net margin was 5.4%, 260 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $1.90 billion. On the bottom line, the average EPS estimate is $0.26.
Next year's average estimate for revenue is $7.22 billion. The average EPS estimate is $0.91.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Enbridge Energy Partners is outperform, with an average price target of $31.97.
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