The 10-second takeaway
For the quarter ended March 31 (Q1), ONEOK Partners missed estimates on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue dropped slightly. GAAP earnings per share dropped significantly.
Margins contracted across the board.
ONEOK Partners tallied revenue of $2.52 billion. The six analysts polled by S&P Capital IQ anticipated revenue of $2.71 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 $0.42. The 14 earnings estimates compiled by S&P Capital IQ forecast $0.58 per share. GAAP EPS of $0.42 for Q1 were 54% lower than the prior-year quarter's $0.91 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 14.7%, 150 basis points worse than the prior-year quarter. Operating margin was 7.1%, 280 basis points worse than the prior-year quarter. Net margin was 6.2%, 300 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $2.87 billion. On the bottom line, the average EPS estimate is $0.57.
Next year's average estimate for revenue is $11.30 billion. The average EPS estimate is $2.41.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 660 members out of 677 rating the stock outperform, and 17 members rating it underperform. Among 230 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 225 give ONEOK Partners a green thumbs-up, and five give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on ONEOK Partners is hold, with an average price target of $59.29.
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