The 10-second takeaway
For the quarter ended March 31 (Q1), Buckeye Partners beat expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue increased. GAAP earnings per share increased significantly.
Margins grew across the board.
Buckeye Partners logged revenue of $1.34 billion. The six analysts polled by S&P Capital IQ anticipated sales of $1.29 billion on the same basis. GAAP reported sales were 6.8% higher than the prior-year quarter's $1.26 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 $0.86. The 11 earnings estimates compiled by S&P Capital IQ averaged $0.73 per share. GAAP EPS of $0.86 for Q1 were 59% higher than the prior-year quarter's $0.54 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 12.9%, 250 basis points better than the prior-year quarter. Operating margin was 8.9%, 250 basis points better than the prior-year quarter. Net margin was 6.6%, 250 basis points better than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $1.17 billion. On the bottom line, the average EPS estimate is $0.71.
Next year's average estimate for revenue is $4.73 billion. The average EPS estimate is $3.23.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 243 members out of 261 rating the stock outperform, and 18 members rating it underperform. Among 92 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 89 give Buckeye Partners a green thumbs-up, and three give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Buckeye Partners is outperform, with an average price target of $57.40.
Can your portfolio provide you with enough income to last through retirement? You'll need more than Buckeye Partners. Learn how to maximize your investment income and "Secure Your Future With 9 Rock-Solid Dividend Stocks." Click here for instant access to this free report.
- Add Buckeye Partners to My Watchlist.
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 has no position in any of the stocks mentioned. 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.