The 10-second takeaway
For the quarter ended April 30 (Q3), Ferrellgas Partners beat expectations on revenues and crushed expectations on earnings per share.
Compared to the prior-year quarter, revenue dropped. Non-GAAP earnings per share increased significantly. GAAP earnings per share increased significantly.
Margins increased across the board.
Ferrellgas Partners chalked up revenue of $603.0 million. The four analysts polled by S&P Capital IQ expected revenue of $564.0 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 came in at $0.57. The seven earnings estimates compiled by S&P Capital IQ predicted $0.45 per share. Non-GAAP EPS of $0.57 for Q3 were 111% higher than the prior-year quarter's $0.27 per share. GAAP EPS of $0.56 for Q3 were 115% higher than the prior-year quarter's $0.26 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 37.0%, 860 basis points better than the prior-year quarter. Operating margin was 12.0%, 460 basis points better than the prior-year quarter. Net margin was 7.4%, 410 basis points better than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $358.6 million. On the bottom line, the average EPS estimate is -$0.27.
Next year's average estimate for revenue is $1.97 billion. The average EPS estimate is $0.83.
The stock has a one-star rating (out of five) at Motley Fool CAPS, with 128 members out of 183 rating the stock outperform, and 55 members rating it underperform. Among 51 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 30 give Ferrellgas Partners a green thumbs-up, and 21 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Ferrellgas Partners is underperform, with an average price target of $15.42.
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