Spectra Energy Partners (NYSE: SEP) reported earnings on Feb. 5. Here are the numbers you need to know.

The 10-second takeaway
 For the quarter ended Dec. 31 (Q4), Spectra Energy Partners missed estimates on revenues and beat expectations on earnings per share.

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

Gross margins contracted, operating margins shrank, net margins expanded.

Revenue details
 Spectra Energy Partners booked revenue of $59.0 million. The eight analysts polled by S&P Capital IQ hoped for net sales of $60.5 million on the same basis. GAAP reported sales were 1.9% higher than the prior-year quarter's $57.9 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 anticipated $0.37 per share. GAAP EPS of $0.48 for Q4 were 26% higher than the prior-year quarter's $0.38 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 44.6%, 2,660 basis points worse than the prior-year quarter. Operating margin was 44.6%, 670 basis points worse than the prior-year quarter. Net margin was 81.5%, 900 basis points better than the prior-year quarter.

Looking ahead
 Next quarter's average estimate for revenue is $64.2 million. On the bottom line, the average EPS estimate is $0.46.

Next year's average estimate for revenue is $257.1 million. The average EPS estimate is $1.69.

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 $32.91.

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