The 10-second takeaway
For the quarter ended Sep. 30 (Q3), TC PipeLines whiffed on revenues and met expectations on earnings per share.
Compared to the prior-year quarter, revenue contracted significantly and GAAP earnings per share dropped.
Gross margins shrank, operating margins dropped, net margins grew.
TC PipeLines tallied revenue of $48.0 million. The three analysts polled by S&P Capital IQ anticipated net sales of $58.9 million on the same basis. GAAP reported sales were 17% lower than the prior-year quarter's $58.0 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 $0.64. The 10 earnings estimates compiled by S&P Capital IQ averaged $0.64 per share. GAAP EPS of $0.64 for Q3 were 15% lower than the prior-year quarter's $0.75 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 91.7%, 240 basis points worse than the prior-year quarter. Operating margin was 85.4%, 30 basis points worse than the prior-year quarter. Net margin was 72.9%, 270 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $60.5 million. On the bottom line, the average EPS estimate is $0.65.
Next year's average estimate for revenue is $223.5 million. The average EPS estimate is $2.61.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 169 members out of 183 rating the stock outperform, and 14 members rating it underperform. Among 57 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 55 give TC PipeLines a green thumbs-up, and two give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on TC PipeLines is hold, with an average price target of $46.05.
Can your portfolio provide you with enough income to last through retirement? You'll need more than TC PipeLines. Learn how to maximize your investment income and "Secure Your Future With 9 Rock-Solid Dividend Stocks." Click here for instant access to this free report.
- Add TC PipeLines to My Watchlist.