Inergy Midstream (NYSE: NRGM) is expected to report Q3 earnings on Aug. 6. 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 Inergy Midstream's revenues will expand 40.4% and EPS will drop -52.4%.

The average estimate for revenue is $68.2 million. On the bottom line, the average EPS estimate is $0.10.

Revenue details
 Last quarter, Inergy Midstream reported revenue of $63.8 million. GAAP reported sales were 36% higher than the prior-year quarter's $46.9 million.

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

EPS details
 Last quarter, EPS came in at $0.01. GAAP EPS of $0.01 for Q2 were 94% lower than the prior-year quarter's $0.18 per share.

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

Recent performance
 For the preceding quarter, gross margin was 79.9%, 340 basis points better than the prior-year quarter. Operating margin was 19.0%, much worse than the prior-year quarter. Net margin was 5.0%, much worse than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $281.3 million. The average EPS estimate is $0.38.

Investor sentiment
 The stock has a five-star rating (out of five) at Motley Fool CAPS, with 13 members out of 15 rating the stock outperform, and two members rating it underperform. Among nine CAPS All-Star picks (recommendations by the highest-ranked CAPS members), eight give Inergy Midstream a green thumbs-up, and one give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Inergy Midstream is outperform, with an average price target of $26.00.

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