Mid-Con Energy Partners
The 10-second takeaway
For the quarter ended March 31 (Q1), Mid-Con Energy Partners beat slightly on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue grew significantly. Non-GAAP earnings per share dropped significantly. GAAP earnings per share increased significantly.
Gross margins dropped, operating margins grew, net margins grew.
Mid-Con Energy Partners reported revenue of $20.2 million. The seven analysts polled by S&P Capital IQ wanted to see a top line of $20.0 million on the same basis. GAAP reported sales were 23% higher than the prior-year quarter's $15.5 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 $0.30. The eight earnings estimates compiled by S&P Capital IQ anticipated $0.44 per share. Non-GAAP EPS of $0.30 for Q1 were 17% lower than the prior-year quarter's $0.36 per share. GAAP EPS of $0.21 for Q1 were 133% higher than the prior-year quarter's $0.09 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 78.3%, 480 basis points worse than the prior-year quarter. Operating margin was 24.5%, much better than the prior-year quarter. Net margin was 21.3%, much better than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $21.4 million. On the bottom line, the average EPS estimate is $0.53.
Next year's average estimate for revenue is $89.6 million. The average EPS estimate is $2.11.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 14 members out of 14 rating the stock outperform, and members rating it underperform. Among six CAPS All-Star picks (recommendations by the highest-ranked CAPS members), six give Mid-Con Energy Partners 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 Mid-Con Energy Partners is buy, with an average price target of $26.14.
Can your portfolio provide you with enough income to last through retirement? You'll need more than Mid-Con Energy Partners. Learn how to maximize your investment income and "Secure Your Future With 9 Rock-Solid Dividend Stocks." Click here for instant access to this free report.
- Add Mid-Con Energy Partners to My Watchlist.
Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.