Spectra Energy (NYSE: SE) reported earnings on May 3. Here are the numbers you need to know.

The 10-second takeaway
 For the quarter ended March 31 (Q1), Spectra Energy beat expectations on revenues and beat expectations on earnings per share.

Compared to the prior-year quarter, revenue increased slightly. GAAP earnings per share didn't change.

Margins dropped across the board.

Revenue details
 Spectra Energy reported revenue of $1.59 billion. The four analysts polled by S&P Capital IQ expected to see revenue of $1.55 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 details
 EPS came in at $0.51. The 11 earnings estimates compiled by S&P Capital IQ predicted $0.48 per share. GAAP EPS of $0.51 were the same as the prior-year quarter.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Margin details
 For the quarter, gross margin was 31.8%, much worse than the prior-year quarter. Operating margin was 31.8%, 170 basis points worse than the prior-year quarter. Net margin was 21.4%, 20 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)

Looking ahead
 Next quarter's average estimate for revenue is $1.21 billion. On the bottom line, the average EPS estimate is $0.33.

Next year's average estimate for revenue is $5.35 billion. The average EPS estimate is $1.51.

Investor sentiment
 The stock has a five-star rating (out of five) at Motley Fool CAPS, with 822 members out of 851 rating the stock outperform, and 29 members rating it underperform. Among 233 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 226 give Spectra Energy a green thumbs-up, and seven give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Spectra Energy is outperform, with an average price target of $29.75.

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