Spectra Energy Partners (NYSE: SEP) reported earnings on Nov. 8. Here are the numbers you need to know.

The 10-second takeaway
 For the quarter ended Sep. 30 (Q3), Spectra Energy Partners missed estimates on revenues and met expectations on earnings per share.

Compared to the prior-year quarter, revenue increased and GAAP earnings per share stayed the same.

Gross margins increased, operating margins expanded, net margins dropped.

Revenue details
 Spectra Energy Partners logged revenue of $57.2 million. The eight analysts polled by S&P Capital IQ expected to see net sales of $58.9 million on the same basis. GAAP reported sales were 8.1% higher than the prior-year quarter's $52.9 million.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
 EPS came in at $0.40. The 10 earnings estimates compiled by S&P Capital IQ averaged $0.40 per share. GAAP EPS of $0.40 were the same as the prior-year quarter.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Margin details
 For the quarter, gross margin was 69.6%, 210 basis points better than the prior-year quarter. Operating margin was 48.4%, 450 basis points better than the prior-year quarter. Net margin was 80.6%, 160 basis points worse than the prior-year quarter.

Looking ahead
 Next quarter's average estimate for revenue is $59.5 million. On the bottom line, the average EPS estimate is $0.38.

Next year's average estimate for revenue is $238.2 million. The average EPS estimate is $1.68.

Investor sentiment

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Spectra Energy Partners is hold, with an average price target of $32.83.

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