Boardwalk Pipeline Partners (NYSE: BWP) reported earnings on July 29. Here are the numbers you need to know.

The 10-second takeaway
 For the quarter ended June 30 (Q2), Boardwalk Pipeline Partners missed estimates on revenues and beat expectations on earnings per share.

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

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

Revenue details
 Boardwalk Pipeline Partners logged revenue of $288.7 million. The nine analysts polled by S&P Capital IQ expected a top line of $307.3 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 $0.34. The nine earnings estimates compiled by S&P Capital IQ anticipated $0.31 per share. Non-GAAP EPS of $0.34 for Q2 were 8.1% lower than the prior-year quarter's $0.37 per share. GAAP EPS of $0.30 for Q2 were 11% higher than the prior-year quarter's $0.27 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 75.3%, 390 basis points worse than the prior-year quarter. Operating margin was 33.3%, 690 basis points worse than the prior-year quarter. Net margin was 24.4%, 80 basis points better than the prior-year quarter. (Margins calculated in GAAP terms.)

Looking ahead
 Next quarter's average estimate for revenue is $306.2 million. On the bottom line, the average EPS estimate is $0.28.

Next year's average estimate for revenue is $1.29 billion. The average EPS estimate is $1.37.

Investor sentiment
 The stock has a four-star rating (out of five) at Motley Fool CAPS, with 463 members out of 486 rating the stock outperform, and 23 members rating it underperform. Among 155 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 148 give Boardwalk Pipeline Partners a green thumbs-up, and seven give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Boardwalk Pipeline Partners is hold, with an average price target of $30.38.

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