Piedmont Natural Gas
The 10-second takeaway
For the quarter ended April 30 (Q2), Piedmont Natural Gas crushed expectations on revenues and met expectations on earnings per share.
Compared to the prior-year quarter, revenue grew significantly. GAAP earnings per share grew.
Margins contracted across the board.
Piedmont Natural Gas notched revenue of $399.4 million. The four analysts polled by S&P Capital IQ looked for revenue of $328.9 million on the same basis. GAAP reported sales were 29% higher than the prior-year quarter's $308.4 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 $0.74. The seven earnings estimates compiled by S&P Capital IQ predicted $0.73 per share. GAAP EPS of $0.74 for Q2 were 5.7% higher than the prior-year quarter's $0.70 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 29.7%, 640 basis points worse than the prior-year quarter. Operating margin was 20.8%, 410 basis points worse than the prior-year quarter. Net margin was 14.0%, 230 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $168.4 million. On the bottom line, the average EPS estimate is -$0.07.
Next year's average estimate for revenue is $1.22 billion. The average EPS estimate is $1.72.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 172 members out of 188 rating the stock outperform, and 16 members rating it underperform. Among 44 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 41 give Piedmont Natural Gas a green thumbs-up, and three give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Piedmont Natural Gas is hold, with an average price target of $32.50.
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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 recommends Piedmont Natural Gas Company. 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.