Western Gas Partners
The 10-second takeaway
For the quarter ended Sep. 30 (Q3), Western Gas Partners beat slightly on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue expanded significantly and GAAP earnings per share dropped significantly.
Margins dropped across the board.
Western Gas Partners reported revenue of $219.0 million. The eight analysts polled by S&P Capital IQ anticipated revenue of $216.5 million on the same basis. GAAP reported sales were 25% higher than the prior-year quarter's $175.9 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 $0.33. The 12 earnings estimates compiled by S&P Capital IQ anticipated $0.42 per share. GAAP EPS of $0.33 for Q3 were 20% lower than the prior-year quarter's $0.41 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 44.1%, 150 basis points worse than the prior-year quarter. Operating margin was 22.5%, 340 basis points worse than the prior-year quarter. Net margin was 18.0%, 290 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $233.4 million. On the bottom line, the average EPS estimate is $0.44.
Next year's average estimate for revenue is $862.6 million. The average EPS estimate is $1.68.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 240 members out of 245 rating the stock outperform, and five members rating it underperform. Among 69 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 67 give Western Gas Partners 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 Western Gas Partners is outperform, with an average price target of $49.96.
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