PetroLogistics (NYSE: PDH) reported earnings on July 24. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended June 30 (Q2), PetroLogistics met expectations on revenues and beat expectations on earnings per share.

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

Gross margins dropped, operating margins grew, net margins increased.

Revenue details
PetroLogistics logged revenue of $159.4 million. The two analysts polled by S&P Capital IQ expected to see revenue of $159.9 million on the same basis. GAAP reported sales were 18% lower than the prior-year quarter's $193.8 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 $0.27. The four earnings estimates compiled by S&P Capital IQ averaged $0.25 per share. Non-GAAP EPS of $0.27 for Q2 were 41% lower than the prior-year quarter's $0.46 per share. GAAP EPS were $0.30 for Q2 compared to -$0.27 per share for the prior-year quarter.

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 30.3%, 710 basis points worse than the prior-year quarter. Operating margin was 27.0%, much better than the prior-year quarter. Net margin was 26.0%, much better than the prior-year quarter. (Margins calculated in GAAP terms.)

Looking ahead
Next quarter's average estimate for revenue is $193.2 million. On the bottom line, the average EPS estimate is $0.37.

Next year's average estimate for revenue is $729.7 million. The average EPS estimate is $1.40.

Investor sentiment
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 25 members out of 28 rating the stock outperform, and three members rating it underperform. Among 10 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), nine give PetroLogistics a green thumbs-up, and one give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on PetroLogistics is outperform, with an average price target of $15.90.

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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 has no position in any of the stocks mentioned. 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.