Enbridge Energy Partners
The 10-second takeaway
For the quarter ended March 31 (Q1), Enbridge Energy Partners whiffed on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue dropped significantly and GAAP earnings per share dropped significantly.
Margins grew across the board.
Enbridge Energy Partners logged revenue of $1.82 billion. The five analysts polled by S&P Capital IQ expected to see a top line of $2.15 billion on the same basis. GAAP reported sales were 21% lower than the prior-year quarter's $2.29 billion.
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 $0.28. The 11 earnings estimates compiled by S&P Capital IQ forecast $0.37 per share. GAAP EPS of $0.25 for Q1 were 34% lower than the prior-year quarter's $0.38 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 26.5%, 800 basis points better than the prior-year quarter. Operating margin was 10.9%, 340 basis points better than the prior-year quarter. Net margin was 5.4%, 30 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $2.22 billion. On the bottom line, the average EPS estimate is $0.36.
Next year's average estimate for revenue is $9.28 billion. The average EPS estimate is $1.43.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Enbridge Energy Partners is outperform, with an average price target of $34.23.
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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.