The 10-second takeaway
For the quarter ended March 31 (Q1), Crosstex Energy whiffed on revenue and exceeded expectations on earnings per share.
Compared to the prior-year quarter, revenue shrank significantly and GAAP loss per share shrank.
Margins grew across the board.
Crosstex Energy reported revenue of $371.7 million. The four analysts polled by S&P Capital IQ looked for sales of $499.5 million on the same basis. GAAP reported sales were 17% lower than the prior-year quarter's $450.3 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 -$0.03. The three earnings estimates compiled by S&P Capital IQ forecast -$0.10 per share. GAAP EPS were -$0.03 for Q1 compared to -$0.07 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 19.4%, 500 basis points better than the prior-year quarter. Operating margin was 6.7%, 230 basis points better than the prior-year quarter. Net margin was 0.8%, 80 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $550.6 million. On the bottom line, the average EPS estimate is -$0.08.
Next year's average estimate for revenue is $1.52 billion. The average EPS estimate is -$0.22.
The stock has a two-star rating (out of five) at Motley Fool CAPS, with 204 members out of 252 rating the stock outperform, and 48 members rating it underperform. Among 87 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 74 give Crosstex Energy a green thumbs-up, and 13 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Crosstex Energy is outperform, with an average price target of $18.67.
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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.