Golar LNG Partners Limited Partnership (Nasdaq: GMLP) reported earnings on May 30. Here are the numbers you need to know.

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

Compared to the prior-year quarter, revenue expanded significantly. Non-GAAP earnings per share grew significantly. GAAP earnings per share dropped.

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

Revenue details
 Golar LNG Partners Limited Partnership notched revenue of $74.9 million. The eight analysts polled by S&P Capital IQ expected revenue of $74.6 million on the same basis. GAAP reported sales were 28% higher than the prior-year quarter's $58.6 million.

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 $0.78. The nine earnings estimates compiled by S&P Capital IQ anticipated $0.46 per share. Non-GAAP EPS of $0.78 for Q1 were 59% higher than the prior-year quarter's $0.49 per share. GAAP EPS of $0.54 for Q1 were 11% lower than the prior-year quarter's $0.61 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 80.2%, 70 basis points worse than the prior-year quarter. Operating margin was 60.3%, 70 basis points better than the prior-year quarter. Net margin was 40.5%, 90 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)

Looking ahead
 Next quarter's average estimate for revenue is $77.9 million. On the bottom line, the average EPS estimate is $0.51.

Next year's average estimate for revenue is $322.7 million. The average EPS estimate is $2.31.

Investor sentiment

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Golar LNG Partners Limited Partnership is outperform, with an average price target of $35.85.

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