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.
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