The 10-second takeaway
For the quarter ended Sep. 30 (Q3), Compressco Partners beat expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue increased significantly and GAAP earnings per share increased significantly.
Margins increased across the board.
Compressco Partners logged revenue of $28.7 million. The two analysts polled by S&P Capital IQ anticipated revenue of $24.7 million on the same basis. GAAP reported sales were 17% higher than the prior-year quarter's $24.6 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 three earnings estimates compiled by S&P Capital IQ predicted $0.24 per share. GAAP EPS of $0.33 for Q3 were 57% higher than the prior-year quarter's $0.21 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 51.5%, 430 basis points better than the prior-year quarter. Operating margin was 22.5%, 470 basis points better than the prior-year quarter. Net margin was 17.7%, 430 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $24.6 million. On the bottom line, the average EPS estimate is $0.23.
Next year's average estimate for revenue is $96.8 million. The average EPS estimate is $0.87.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Compressco Partners is hold, with an average price target of $16.00.
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