Spectra Energy Partners (NYSE: SEP) reported earnings on Feb. 3. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended Dec. 31 (Q4), Spectra Energy Partners missed estimates on revenues and missed expectations on earnings per share.

Compared to the prior-year quarter, revenue grew and GAAP earnings per share grew.

Gross margins dropped, operating margins improved, net margins contracted.

Revenue details
Spectra Energy Partners logged revenue of $57.9 million. The eight analysts polled by S&P Capital IQ expected to see sales of $63.2 million. Sales were 14% higher than the prior-year quarter's $50.8 million.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions.

EPS details
Non-GAAP EPS came in at $0.38. The 12 earnings estimates compiled by S&P Capital IQ forecast $0.39 per share on the same basis. GAAP EPS of $0.44 for Q4 were 7.3% higher than the prior-year quarter's $0.41 per share.

Source: S&P Capital IQ. Quarterly periods. Figures may be non-GAAP to maintain comparability with estimates.

Margin details
For the quarter, gross margin was 42.5%, 1,140 basis points worse than the prior-year quarter. Operating margin was 42.5%, 610 basis points better than the prior-year quarter. Net margin was 72.5%, 70 basis points worse than the prior-year quarter.

Looking ahead
Next quarter's average estimate for revenue is $65.9 million. On the bottom line, the average EPS estimate is $0.47.

Next year's average estimate for revenue is $267.1 million. The average EPS estimate is $1.68.

Investor sentiment
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Spectra Energy Partners is hold, with an average price target of $32.00.

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Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.