Legacy Reserves Lp (Nasdaq: LGCY) reported earnings on Feb. 25. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended Dec. 31 (Q4), Legacy Reserves Lp beat slightly on revenues and missed estimates on earnings per share.

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

Gross margins contracted, operating margins grew, net margins grew.

Revenue details
Legacy Reserves Lp logged revenue of $90.5 million. The nine analysts polled by S&P Capital IQ expected a top line of $89.2 million on the same basis. GAAP reported sales were the same as the prior-year quarter's.

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 $0.22. The 10 earnings estimates compiled by S&P Capital IQ predicted $0.39 per share. Non-GAAP EPS of $0.22 for Q4 were 61% lower than the prior-year quarter's $0.56 per share. GAAP EPS were $0.04 for Q4 against -$1.29 per share for 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 59.5%, 800 basis points worse than the prior-year quarter. Operating margin was 20.7%, much better than the prior-year quarter. Net margin was 2.1%, much better than the prior-year quarter.

Looking ahead
Next quarter's average estimate for revenue is $114.9 million. On the bottom line, the average EPS estimate is $0.37.

Next year's average estimate for revenue is $463.1 million. The average EPS estimate is $1.53.

Investor sentiment
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 277 members out of 284 rating the stock outperform, and seven members rating it underperform. Among 91 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 90 give Legacy Reserves Lp a green thumbs-up, and one give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Legacy Reserves Lp is buy, with an average price target of $32.44.

Can your portfolio provide you with enough income to last through retirement? You'll need more than Legacy Reserves Lp. Learn how to maximize your investment income and "Secure Your Future With 9 Rock-Solid Dividend Stocks." Click here for instant access to this free report.

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 has no position in any of the stocks mentioned. 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.