Fairpoint Communications (Nasdaq: FRP) is expected to report Q2 earnings on Aug. 5. Here's what Wall Street wants to see:

The 10-second takeaway
 Comparing the upcoming quarter to the prior-year quarter, average analyst estimates predict Fairpoint Communications's revenues will compress -3.2% and EPS will remain in the red.

The average estimate for revenue is $235.7 million. On the bottom line, the average EPS estimate is -$1.29.

Revenue details
 Last quarter, Fairpoint Communications logged revenue of $235.5 million. GAAP reported sales were 5.2% lower than the prior-year quarter's $248.5 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 details
 Last quarter, EPS came in at -$1.82. GAAP EPS were -$1.82 for Q1 compared to -$1.80 per share for the prior-year quarter.

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.

Recent performance
 For the preceding quarter, gross margin was 50.7%, 110 basis points worse than the prior-year quarter. Operating margin was -25.8%, 460 basis points worse than the prior-year quarter. Net margin was -20.2%, 140 basis points worse than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $940.7 million. The average EPS estimate is -$5.77.

Investor sentiment

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Fairpoint Communications is outperform, with an average price target of $15.00.

Looking for alternatives to Fairpoint Communications? It takes more than great companies to build a fortune for the future. Learn the basic financial habits of millionaires next door and get focused stock ideas in our free report, "3 Stocks That Will Help You Retire Rich." Click here for instant access to this free report.