Boardwalk Pipeline Partners
The 10-second takeaway
For the quarter ended March 31 (Q1), Boardwalk Pipeline Partners missed estimates on revenues and crushed expectations on earnings per share.
Compared to the prior-year quarter, revenue expanded slightly and GAAP earnings per share increased significantly.
Gross margins increased, operating margins were steady, and net margins expanded.
Boardwalk Pipeline Partners logged revenue of $312.9 million. The 10 analysts polled by S&P Capital IQ wanted to see revenue of $319.4 million on the same basis. GAAP reported sales were 0.0% lower than the prior-year quarter's $311.0 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 $0.53. The nine earnings estimates compiled by S&P Capital IQ forecast $0.43 per share. GAAP EPS of $0.45 for Q1 were 15% higher than the prior-year quarter's $0.39 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 82.3%, 120 basis points better than the prior-year quarter. Operating margin was 43.4%, about the same as the prior-year quarter. Net margin was 29.6%, 290 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $276.2 million. On the bottom line, the average EPS estimate is $0.28.
Next year's average estimate for revenue is $1.21 billion. The average EPS estimate is $1.37.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 402 members rating the stock outperform, and 21 members rating it underperform. Among 140 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 138 give Boardwalk Pipeline 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 Boardwalk Pipeline Partners is hold, with an average price target of $29.92.
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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.