Teekay Offshore Partners (NYSE: TOO) reported earnings on Aug. 9. Here are the numbers you need to know.

The 10-second takeaway
 For the quarter ended June 30 (Q2), Teekay Offshore Partners beat expectations on revenues and beat expectations on earnings per share.

Compared to the prior-year quarter, revenue improved and GAAP loss per share contracted.

Gross margins grew, operating margins grew, net margins were steady.

Revenue details
 Teekay Offshore Partners chalked up revenue of $251.2 million. The four analysts polled by S&P Capital IQ predicted revenue of $219.4 million on the same basis. GAAP reported sales were 7.3% higher than the prior-year quarter's $234.1 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 $0.29. The four earnings estimates compiled by S&P Capital IQ forecast $0.24 per share. GAAP EPS were -$0.17 for Q2 compared to -$0.20 per share for the prior-year quarter.

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 51.9%, 570 basis points better than the prior-year quarter. Operating margin was 24.5%, 580 basis points better than the prior-year quarter. Net margin was -4.8%, about the same as the prior-year quarter.

Looking ahead
 Next quarter's average estimate for revenue is $235.4 million. On the bottom line, the average EPS estimate is $0.25.

Next year's average estimate for revenue is $966.9 million. The average EPS estimate is $1.21.

Investor sentiment
 The stock has a five-star rating (out of five) at Motley Fool CAPS, with 106 members out of 117 rating the stock outperform, and 11 members rating it underperform. Among 25 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 23 give Teekay Offshore Partners a green thumbs-up, and two give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Teekay Offshore Partners is outperform, with an average price target of $31.34.

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