The 10-second takeaway
For the quarter ended Sep. 30 (Q3), Genesis Energy missed estimates on revenues and met expectations on earnings per share.
Compared to the prior-year quarter, revenue increased and GAAP earnings per share grew significantly.
Gross margins dropped, operating margins shrank, net margins grew.
Genesis Energy tallied revenue of $942.3 million. The 10 analysts polled by S&P Capital IQ predicted a top line of $1.03 billion on the same basis. GAAP reported sales were 14% higher than the prior-year quarter's $830.2 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 $0.29. The 11 earnings estimates compiled by S&P Capital IQ predicted $0.29 per share. GAAP EPS of $0.39 for Q3 were 44% higher than the prior-year quarter's $0.27 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 5.8%, 50 basis points worse than the prior-year quarter. Operating margin was 3.1%, 40 basis points worse than the prior-year quarter. Net margin was 3.3%, 100 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $1.02 billion. On the bottom line, the average EPS estimate is $0.30.
Next year's average estimate for revenue is $3.88 billion. The average EPS estimate is $1.13.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 258 members out of 266 rating the stock outperform, and eight members rating it underperform. Among 80 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 80 give Genesis Energy a green thumbs-up, and give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Genesis Energy is outperform, with an average price target of $34.78.
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