Enterprise Products Partners
The 10-second takeaway
For the quarter ended March 31 (Q1), Enterprise Products Partners missed slightly on revenues and crushed expectations on earnings per share.
Compared to the prior-year quarter, revenue increased slightly. GAAP earnings per share increased.
Margins grew across the board.
Enterprise Products Partners booked revenue of $11.38 billion. The 10 analysts polled by S&P Capital IQ predicted net sales of $11.61 billion 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 came in at $0.83. The 17 earnings estimates compiled by S&P Capital IQ predicted $0.65 per share. GAAP EPS of $0.83 for Q1 were 14% higher than the prior-year quarter's $0.73 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 8.5%, 150 basis points better than the prior-year quarter. Operating margin was 8.0%, 140 basis points better than the prior-year quarter. Net margin was 6.6%, 80 basis points better than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $11.44 billion. On the bottom line, the average EPS estimate is $0.66.
Next year's average estimate for revenue is $47.45 billion. The average EPS estimate is $2.72.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 1,320 members out of 1,346 rating the stock outperform, and 26 members rating it underperform. Among 391 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 389 give Enterprise Products Partners a green thumbs-up, and two give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Enterprise Products Partners is outperform, with an average price target of $61.19.
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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 recommends Enterprise Products Partners L.P. 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.