The 10-second takeaway
For the quarter ended March 31 (Q1), Crosstex Energy missed estimates on revenues and exceeded expectations on earnings per share.
Compared to the prior-year quarter, revenue expanded significantly. Non-GAAP loss per share expanded. GAAP loss per share grew.
Margins contracted across the board.
Crosstex Energy recorded revenue of $445.7 million. The seven analysts polled by S&P Capital IQ expected to see a top line of $479.5 million on the same basis. GAAP reported sales were 20% higher than the prior-year quarter's $371.7 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 -$0.15. The nine earnings estimates compiled by S&P Capital IQ averaged -$0.24 per share. Non-GAAP EPS were -$0.15 for Q1 against -$0.03 per share for the prior-year quarter. GAAP EPS were -$0.06 for Q1 versus -$0.03 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 15.1%, 430 basis points worse than the prior-year quarter. Operating margin was 3.2%, 290 basis points worse than the prior-year quarter. Net margin was -0.7%, 150 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $460.5 million. On the bottom line, the average EPS estimate is -$0.25.
Next year's average estimate for revenue is $2.10 billion. The average EPS estimate is -$0.66.
The stock has a two-star rating (out of five) at Motley Fool CAPS, with 210 members out of 258 rating the stock outperform, and 48 members rating it underperform. Among 87 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 80 give Crosstex Energy a green thumbs-up, and seven give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Crosstex Energy is outperform, with an average price target of $19.00.
Is Crosstex Energy the right energy stock for you? Read about a handful of timely, profit-producing plays on expensive crude in "3 Stocks for $100 Oil." Click here for instant access to this free report.
- Add Crosstex Energy 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.