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Enterprise Products Partners Crushes Earnings Estimates

Tuesday - 4/30/2013, 2:00am  ET

Enterprise Products Partners reported earnings on April 30. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended March 31 (Q1), Enterprise Products Partners missed slightly on revenues and crushed expectations on earnings per share.

Compared to the prior-year quarter, revenue increased slightly. GAAP earnings per share increased.

Margins grew across the board.

Revenue details
Enterprise Products Partners booked revenue of $11.38 billion. The 10 analysts polled by S&P Capital IQ predicted net sales of $11.61 billion 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 $0.83. The 17 earnings estimates compiled by S&P Capital IQ predicted $0.65 per share. GAAP EPS of $0.83 for Q1 were 14% higher than the prior-year quarter's $0.73 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 8.5%, 150 basis points better than the prior-year quarter. Operating margin was 8.0%, 140 basis points better than the prior-year quarter. Net margin was 6.6%, 80 basis points better than the prior-year quarter. (Margins calculated in GAAP terms.)

Looking ahead
Next quarter's average estimate for revenue is $11.44 billion. On the bottom line, the average EPS estimate is $0.66.

Next year's average estimate for revenue is $47.45 billion. The average EPS estimate is $2.72.

Investor sentiment
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 1,320 members out of 1,346 rating the stock outperform, and 26 members rating it underperform. Among 391 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 389 give Enterprise Products Partners a green thumbs-up, and two give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Enterprise Products Partners is outperform, with an average price target of $61.19.

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This article was originally published as Enterprise Products Partners Crushes Earnings Estimateson Fool.com

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