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.
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