MarkWest Energy Partners
The 10-second takeaway
For the quarter ended Dec. 31 (Q4), MarkWest Energy Partners whiffed on revenue and crushed expectations on earnings per share.
Compared to the prior-year quarter, revenue increased and GAAP loss per share grew.
Margins shrank across the board.
MarkWest Energy Partners chalked up revenue of $333.9 million. The four analysts polled by S&P Capital IQ predicted sales of $403.7 million on the same basis. GAAP reported sales were 6.4% lower than the prior-year quarter's $356.6 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
Non-GAAP EPS came in at $0.75. The six earnings estimates compiled by S&P Capital IQ predicted $0.44 per share on the same basis. GAAP EPS were -$0.87 for Q4 versus -$0.76 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 44.6%, 790 basis points worse than the prior-year quarter. Operating margin was -1.0%, 830 basis points worse than the prior-year quarter. Net margin was -22.2%, 700 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $415.4 million. On the bottom line, the average EPS estimate is $0.63.
Next year's average estimate for revenue is $1.71 billion. The average EPS estimate is $2.72.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on MarkWest Energy Partners is buy, with an average price target of $62.11.
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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.