Inergy Midstream Whiffs on Revenues

Just the facts, Fool.

Seth Jayson
Seth Jayson
Feb 5, 2013 at 12:00AM
Other

Inergy Midstream (NYSE: NRGM) reported earnings on Feb. 5. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended Dec. 31 (Q1), Inergy Midstream whiffed on revenues and missed estimates on earnings per share.

Compared to the prior-year quarter, revenue grew significantly and GAAP earnings per share grew significantly.

Margins dropped across the board.

Revenue details
Inergy Midstream booked revenue of $50.4 million. The five analysts polled by S&P Capital IQ looked for net sales of $63.4 million on the same basis. GAAP reported sales were 50% higher than the prior-year quarter's $33.7 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 $0.06. The three earnings estimates compiled by S&P Capital IQ forecast $0.10 per share. GAAP EPS of $0.06 for Q1 were 200% higher than the prior-year quarter's $0.02 per share.

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 78.4%, 1,090 basis points worse than the prior-year quarter. Operating margin was 25.0%, 1,770 basis points worse than the prior-year quarter. Net margin was 12.9%, 2,980 basis points worse than the prior-year quarter.


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Looking ahead
Next quarter's average estimate for revenue is $101.1 million. On the bottom line, the average EPS estimate is $0.15.

Next year's average estimate for revenue is $388.6 million. The average EPS estimate is $0.66.

Investor sentiment

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Inergy Midstream is outperform, with an average price target of $26.29.

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