The 10-second takeaway
For the quarter ended March 31 (Q2), Inergy Midstream whiffed on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue grew significantly. GAAP earnings per share dropped significantly.
Gross margins grew, operating margins dropped, net margins shrank.
Inergy Midstream reported revenue of $63.8 million. The five analysts polled by S&P Capital IQ wanted to see sales of $82.1 million on the same basis. GAAP reported sales were 6.3% higher than the prior-year quarter's $60.0 million.
EPS came in at $0.01. The five earnings estimates compiled by S&P Capital IQ forecast $0.17 per share. GAAP EPS of $0.01 for Q2 were 94% lower than the prior-year quarter's $0.18 per share.
For the quarter, gross margin was 79.9%, much better than the prior-year quarter. Operating margin was 18.5%, much worse than the prior-year quarter. Net margin was 5.0%, much worse than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $114.0 million. On the bottom line, the average EPS estimate is $0.15.
Next year's average estimate for revenue is $354.4 million. The average EPS estimate is $0.64.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Inergy Midstream is outperform, with an average price target of $26.00.
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