Spectra Energy Partners
The 10-second takeaway
For the quarter ended June 30 (Q2), Spectra Energy Partners beat expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue expanded significantly and GAAP earnings per share grew significantly.
Gross margins dropped, operating margins increased, and net margins dropped.
Spectra Energy Partners reported revenue of $58.7 million. The eight analysts polled by S&P Capital IQ predicted a top line of $57.4 million on the same basis. GAAP reported sales were 37% higher than the prior-year quarter's $43.0 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 $0.42. The 14 earnings estimates compiled by S&P Capital IQ anticipated $0.39 per share. GAAP EPS of $0.49 for Q2 were 36% higher than the prior-year quarter's $0.36 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 53.0%, 490 basis points worse than the prior-year quarter. Operating margin was 53.0%, 1,740 basis points better than the prior-year quarter. Net margin was 79.9%, 750 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $60.1 million. On the bottom line, the average EPS estimate is $0.42.
Next year's average estimate for revenue is $248.2 million. The average EPS estimate is $1.70.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Spectra Energy Partners is hold, with an average price target of $32.69.
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