Western Gas Partners (NYSE: WES) reported earnings on Feb. 27. Here are the numbers you need to know.

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

Compared to the prior-year quarter, revenue expanded significantly. GAAP earnings per share dropped to a loss.

Margins contracted across the board.

Revenue details
Western Gas Partners reported revenue of $212.8 million. The eight analysts polled by S&P Capital IQ foresaw net sales of $229.1 million on the same basis. GAAP reported sales were 19% higher than the prior-year quarter's $179.6 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 -$0.27. The nine earnings estimates compiled by S&P Capital IQ predicted $0.43 per share. GAAP EPS were -$0.27 for Q4 versus $0.35 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 45.7%, 50 basis points worse than the prior-year quarter. Operating margin was -3.0%, much worse than the prior-year quarter. Net margin was -8.0%, much worse than the prior-year quarter.

Looking ahead
Next quarter's average estimate for revenue is $255.3 million. On the bottom line, the average EPS estimate is $0.41.

Next year's average estimate for revenue is $1.06 billion. The average EPS estimate is $1.85.

Investor sentiment
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 233 members out of 239 rating the stock outperform, and six members rating it underperform. Among 64 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 63 give Western Gas Partners 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 Western Gas Partners is outperform, with an average price target of $54.30.

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