Western Gas Partners
The 10-second takeaway
For the quarter ended June 30 (Q2), Western Gas Partners beat slightly on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue grew significantly. GAAP earnings per share grew significantly.
Margins increased across the board.
Western Gas Partners tallied revenue of $255.1 million. The eight analysts polled by S&P Capital IQ foresaw revenue of $252.5 million on the same basis. GAAP reported sales were 24% higher than the prior-year quarter's $205.3 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures are normalized by S&P Capital IQ and may vary to maintain comparability with normalized estimates.
EPS came in at $0.41. The 10 earnings estimates compiled by S&P Capital IQ predicted $0.40 per share. GAAP EPS of $0.41 for Q2 were 24% higher than the prior-year quarter's $0.33 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures are normalized by S&P Capital IQ and may vary to maintain comparability with normalized estimates.
For the quarter, gross margin was 47.0%, 370 basis points better than the prior-year quarter. Operating margin was 27.5%, 450 basis points better than the prior-year quarter. Net margin was 23.6%, 590 basis points better than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $272.8 million. On the bottom line, the average EPS estimate is $0.45.
Next year's average estimate for revenue is $1.03 billion. The average EPS estimate is $1.58.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 233 members out of 238 rating the stock outperform, and five members rating it underperform. Among 63 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 62 give Western Gas Partners 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 Western Gas Partners is outperform, with an average price target of $64.42.
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