Enterprise Products Partners
The 10-second takeaway
For the quarter ended Dec. 31 (Q4), Enterprise Products Partners missed estimates on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue dropped and GAAP earnings per share contracted significantly.
Margins dropped across the board.
Enterprise Products Partners reported revenue of $11.01 billion. The 10 analysts polled by S&P Capital IQ hoped for a top line of $11.93 billion on the same basis. GAAP reported sales were 4.9% lower than the prior-year quarter's $11.59 billion.
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 $0.68. The 17 earnings estimates compiled by S&P Capital IQ predicted $0.66 per share. GAAP EPS of $0.68 for Q4 were 17% lower than the prior-year quarter's $0.82 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 7.6%, 80 basis points worse than the prior-year quarter. Operating margin was 7.3%, 70 basis points worse than the prior-year quarter. Net margin was 5.6%, 60 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $11.61 billion. On the bottom line, the average EPS estimate is $0.62.
Next year's average estimate for revenue is $48.86 billion. The average EPS estimate is $2.68.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 1,307 members out of 1,330 rating the stock outperform, and 23 members rating it underperform. Among 407 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 403 give Enterprise Products Partners a green thumbs-up, and four give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Enterprise Products Partners is outperform, with an average price target of $59.40.
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Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. The Motley Fool recommends Enterprise Products Partners L.P. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.