Boardwalk Pipeline Partners
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.
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 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.
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.)
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.
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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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.