DCP Midstream Partners
The 10-second takeaway
For the quarter ended March 31 (Q1), DCP Midstream Partners beat expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue expanded significantly. Non-GAAP earnings per share dropped significantly. GAAP earnings per share increased significantly.
Gross margins shrank, operating margins grew, net margins grew.
DCP Midstream Partners logged revenue of $731.0 million. The six analysts polled by S&P Capital IQ predicted a top line of $689.1 million on the same basis. GAAP reported sales were 38% higher than the prior-year quarter's $530.9 million.
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 $0.63. The 10 earnings estimates compiled by S&P Capital IQ averaged $0.61 per share. Non-GAAP EPS of $0.63 for Q1 were 18% lower than the prior-year quarter's $0.77 per share. GAAP EPS of $0.48 for Q1 were 100% higher than the prior-year quarter's $0.24 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 13.7%, 10 basis points worse than the prior-year quarter. Operating margin was 8.2%, 230 basis points better than the prior-year quarter. Net margin was 7.1%, 430 basis points better than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $579.0 million. On the bottom line, the average EPS estimate is $0.41.
Next year's average estimate for revenue is $2.42 billion. The average EPS estimate is $2.11.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 230 members out of 241 rating the stock outperform, and 11 members rating it underperform. Among 71 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 70 give DCP Midstream Partners a green thumbs-up, and one give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on DCP Midstream Partners is outperform, with an average price target of $48.65.
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