Teekay LNG Partners (NYSE: TGP) reported earnings on May 9. Here are the numbers you need to know.

The 10-second takeaway
 For the quarter ended March 31 (Q1), Teekay LNG Partners met expectations on revenues and crushed expectations on earnings per share.

Compared to the prior-year quarter, revenue contracted slightly. Non-GAAP earnings per share grew. GAAP earnings per share increased significantly.

Gross margins contracted, operating margins shrank, net margins grew.

Revenue details
 Teekay LNG Partners reported revenue of $97.1 million. The five analysts polled by S&P Capital IQ wanted to see a top line of $98.2 million on the same basis. GAAP reported sales were the same as the prior-year quarter's.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
 EPS came in at $0.56. The six earnings estimates compiled by S&P Capital IQ predicted $0.46 per share. Non-GAAP EPS of $0.56 for Q1 were 1.8% higher than the prior-year quarter's $0.55 per share. GAAP EPS of $0.78 for Q1 were 160% higher than the prior-year quarter's $0.30 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Margin details
 For the quarter, gross margin was 73.5%, 550 basis points worse than the prior-year quarter. Operating margin was 43.0%, 400 basis points worse than the prior-year quarter. Net margin was 56.1%, much better than the prior-year quarter. (Margins calculated in GAAP terms.)

Looking ahead
 Next quarter's average estimate for revenue is $102.7 million. On the bottom line, the average EPS estimate is $0.50.

Next year's average estimate for revenue is $404.2 million. The average EPS estimate is $1.92.

Investor sentiment
 The stock has a five-star rating (out of five) at Motley Fool CAPS, with 229 members out of 237 rating the stock outperform, and eight members rating it underperform. Among 52 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 50 give Teekay LNG Partners a green thumbs-up, and two give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Teekay LNG Partners is hold, with an average price target of $40.83.

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