Piedmont Natural Gas
The 10-second takeaway
For the quarter ended Jan. 31 (Q1), Piedmont Natural Gas whiffed on revenue and whiffed on earnings per share.
Compared to the prior-year quarter, revenue shrank significantly and GAAP earnings per share dropped.
Margins improved across the board.
Piedmont Natural Gas reported revenue of $471.8 million. The two analysts polled by S&P Capital IQ predicted a top line of $678.1 million on the same basis. GAAP reported sales were 28% lower than the prior-year quarter's $652.1 million.
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 $1.05. The four earnings estimates compiled by S&P Capital IQ predicted $1.20 per share. GAAP EPS of $1.05 for Q1 were 9.5% lower than the prior-year quarter's $1.16 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 34.3%, 690 basis points better than the prior-year quarter. Operating margin was 26.9%, 500 basis points better than the prior-year quarter. Net margin was 16.2%, 330 basis points better than the prior-year quarter.
On the bottom line, the average EPS estimate is $0.70.
Next year's average estimate for revenue is $1.26 billion. The average EPS estimate is $1.63.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 171 members out of 187 rating the stock outperform, and 16 members rating it underperform. Among 53 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 51 give Piedmont Natural Gas 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 Piedmont Natural Gas is underperform, with an average price target of $30.71.
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