TransCanada (NYSE: TRP) reported earnings on April 27. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended March 31 (Q1), TransCanada whiffed on revenues and missed estimates on earnings per share.

Compared to the prior-year quarter, revenue contracted significantly and GAAP earnings per share dropped significantly.

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

Revenue details
TransCanada tallied revenue of $1.91 billion. The four analysts polled by S&P Capital IQ expected sales of $2.25 billion on the same basis. GAAP reported sales were 17% lower than the prior-year quarter's $2.31 billion.

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 $0.52. The 10 earnings estimates compiled by S&P Capital IQ forecast $0.55 per share. GAAP EPS of $0.50 for Q1 were 18% lower than the prior-year quarter's $0.61 per share.

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 53.6%, 20 basis points worse than the prior-year quarter. Operating margin was 35.6%, 170 basis points worse than the prior-year quarter. Net margin was 19.2%, 10 basis points better than the prior-year quarter.

Looking ahead
On the bottom line, the average EPS estimate is $0.59.

Next year's average estimate for revenue is $8.39 billion. The average EPS estimate is $2.36.

Investor sentiment
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 390 members out of 402 rating the stock outperform, and 12 members rating it underperform. Among 90 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 89 give TransCanada a green thumbs-up, and one give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on TransCanada is outperform, with an average price target of $44.84.

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