Suburban Propane Partners
The 10-second takeaway
For the quarter ended March 30 (Q2), Suburban Propane Partners missed estimates on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue expanded significantly. Non-GAAP earnings per share increased significantly. GAAP earnings per share expanded significantly.
Margins grew across the board.
Suburban Propane Partners reported revenue of $678.4 million. The six analysts polled by S&P Capital IQ looked for revenue of $700.2 million on the same basis. GAAP reported sales were 90% higher than the prior-year quarter's $357.6 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 $2.38. The eight earnings estimates compiled by S&P Capital IQ forecast $2.48 per share. Non-GAAP EPS of $2.38 for Q2 were 63% higher than the prior-year quarter's $1.46 per share. GAAP EPS of $2.28 for Q2 were 65% higher than the prior-year quarter's $1.38 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 30.2%, 840 basis points better than the prior-year quarter. Operating margin was 22.9%, 720 basis points better than the prior-year quarter. Net margin was 19.3%, 540 basis points better than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $402.9 million. On the bottom line, the average EPS estimate is -$0.22.
Next year's average estimate for revenue is $1.78 billion. The average EPS estimate is $2.14.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Suburban Propane Partners is hold, with an average price target of $43.13.
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