PAA Natural Gas Storage
The 10-second takeaway
For the quarter ended March 31 (Q1), PAA Natural Gas Storage crushed expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue grew significantly. Non-GAAP earnings per share grew. GAAP earnings per share grew.
Margins dropped across the board.
PAA Natural Gas Storage logged revenue of $128.9 million. The four analysts polled by S&P Capital IQ looked for sales of $74.2 million on the same basis. GAAP reported sales were 19% higher than the prior-year quarter's $108.7 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 $0.26. The 10 earnings estimates compiled by S&P Capital IQ averaged $0.23 per share. Non-GAAP EPS of $0.26 for Q1 were 13% higher than the prior-year quarter's $0.23 per share. GAAP EPS of $0.24 for Q1 were 9.1% higher than the prior-year quarter's $0.22 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 27.7%, 160 basis points worse than the prior-year quarter. Operating margin was 15.8%, 50 basis points worse than the prior-year quarter. Net margin was 13.9%, 80 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $72.2 million. On the bottom line, the average EPS estimate is $0.22.
Next year's average estimate for revenue is $318.4 million. The average EPS estimate is $0.94.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 66 members out of 66 rating the stock outperform, and members rating it underperform. Among 17 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 17 give PAA Natural Gas Storage a green thumbs-up, and give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on PAA Natural Gas Storage is hold, with an average price target of $20.19.
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