Enbridge Energy Partners
The 10-second takeaway
For the quarter ended March 31 (Q1), Enbridge Energy Partners missed estimates on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue dropped. Non-GAAP earnings per share dropped significantly. GAAP earnings per share contracted to a loss.
Gross margins grew, operating margins contracted, net margins dropped.
Enbridge Energy Partners logged revenue of $1.69 billion. The six analysts polled by S&P Capital IQ expected net sales of $1.84 billion on the same basis. GAAP reported sales were 7.0% lower than the prior-year quarter's $1.82 billion.
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 $0.21. The 14 earnings estimates compiled by S&P Capital IQ predicted $0.19 per share. Non-GAAP EPS of $0.21 for Q1 were 25% lower than the prior-year quarter's $0.28 per share. GAAP EPS were -$0.36 for Q1 versus $0.25 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 27.6%, 110 basis points better than the prior-year quarter. Operating margin was 0.1%, much worse than the prior-year quarter. Net margin was -4.9%, much worse than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $1.81 billion. On the bottom line, the average EPS estimate is $0.25.
Next year's average estimate for revenue is $7.66 billion. The average EPS estimate is $0.97.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Enbridge Energy Partners is outperform, with an average price target of $31.75.
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