Spectra Energy Partners
The 10-second takeaway
For the quarter ended March 31 (Q1), Spectra Energy Partners met expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue dropped slightly. Non-GAAP earnings per share shrank. GAAP earnings per share grew.
Gross margins dropped, operating margins increased, net margins increased.
Spectra Energy Partners notched revenue of $60.9 million. The seven analysts polled by S&P Capital IQ predicted revenue of $60.3 million 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 $0.45. The 10 earnings estimates compiled by S&P Capital IQ predicted $0.42 per share. Non-GAAP EPS of $0.45 for Q1 were 6.2% lower than the prior-year quarter's $0.48 per share. GAAP EPS of $0.54 for Q1 were 13% higher than the prior-year quarter's $0.48 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 54.4%, much worse than the prior-year quarter. Operating margin was 54.4%, 90 basis points better than the prior-year quarter. Net margin was 91.8%, 710 basis points better than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $58.1 million. On the bottom line, the average EPS estimate is $0.39.
Next year's average estimate for revenue is $249.4 million. The average EPS estimate is $1.65.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Spectra Energy Partners is hold, with an average price target of $36.42.
Is Spectra Energy Partners the right energy stock for you? Read about a handful of timely, profit-producing plays on expensive crude in "3 Stocks for $100 Oil." Click here for instant access to this free report.
- Add Spectra Energy Partners to My Watchlist.