PAA Natural Gas Storage
The 10-second takeaway
For the quarter ended June 30 (Q2), PAA Natural Gas Storage crushed 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.
Margins dropped across the board.
PAA Natural Gas Storage booked revenue of $100.1 million. The three analysts polled by S&P Capital IQ looked for revenue of $69.7 million on the same basis. GAAP reported sales were 84% higher than the prior-year quarter's $54.4 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 $0.25. The eight earnings estimates compiled by S&P Capital IQ anticipated $0.22 per share. GAAP EPS of $0.23 for Q2 were 4.5% higher than the prior-year quarter's $0.22 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 35.6%, 2,120 basis points worse than the prior-year quarter. Operating margin was 18.7%, 1,320 basis points worse than the prior-year quarter. Net margin was 17.0%, 1,220 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $67.8 million. On the bottom line, the average EPS estimate is $0.25.
Next year's average estimate for revenue is $296.4 million. The average EPS estimate is $0.98.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 65 members out of 67 rating the stock outperform, and two members rating it underperform. Among 21 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 21 give PAA Natural Gas Storage a green thumbs-up.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on PAA Natural Gas Storage is hold, with an average price target of $19.69.
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