MarkWest Energy Partners (NYSE: MWE) reported earnings on Feb. 28. Here are the numbers you need to know.

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

Compared to the prior-year quarter, revenue increased. GAAP earnings per share expanded.

Margins expanded across the board.

Revenue details
 MarkWest Energy Partners booked revenue of $371.5 million. The six analysts polled by S&P Capital IQ predicted revenue of $400.0 million on the same basis. GAAP reported sales were 13% lower than the prior-year quarter's $424.8 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 $0.22. The eight earnings estimates compiled by S&P Capital IQ averaged $0.32 per share. GAAP EPS were $0.22 for Q4 compared to -$0.87 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 59.4%, 290 basis points better than the prior-year quarter. Operating margin was 17.5%, much better than the prior-year quarter. Net margin was 8.6%, much better than the prior-year quarter.

Looking ahead
 Next quarter's average estimate for revenue is $330.8 million. On the bottom line, the average EPS estimate is $0.20.

Next year's average estimate for revenue is $1.33 billion. The average EPS estimate is $1.53.

Investor sentiment

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on MarkWest Energy Partners is outperform, with an average price target of $60.17.

Is MarkWest Energy Partners the right energy stock for you? Read about a handful of timely, profit-producing plays on expensive crude in "3 Stocks for $100 Oil." Click here for instant access to this free report.