Energy Transfer Equity, L.P. (NYSE:ETE) delivered a profit and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 0%.
Energy Transfer Equity, L.P. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 55.26% to $0.17 in the quarter versus EPS of $0.38 in the year-earlier quarter.
Revenue: Rose 419.23% to $11.31 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Energy Transfer Equity, L.P. reported adjusted EPS income of $0.17 per share. By that measure, the company missed the mean analyst estimate of $0.61. It beat the average revenue estimate of $6.77 billion.
Quoting Management: “As we look out into 2013, the strength of our backlog and our increased retail presence around the globe gives us confidence that our first half revenue growth will be approximately 13 to 15 percent and our initial expectations are for slightly better growth in the second half of 2013 compared with the second half of 2012,” said John McCarvel.
Key Stats (on next page)…