EV Energy Partners LP (NASDAQ:EVEP) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.
EV Energy Partners LP Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 117.65% to $0.74 in the quarter versus EPS of $0.34 in the year-earlier quarter.
Revenue: Rose 28.4% to $81.6 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: EV Energy Partners LP reported adjusted EPS income of $0.74 per share. By that measure, the company beat the mean analyst estimate of $0.16. It missed the average revenue estimate of $85.87 million.
Quoting Management: Mark Houser, President and CEO, said, “Our base business is running strong, and UEO is coming online as scheduled. We are pleased with our first Utica acreage sale and are gaining traction on other potential sales as we continue our marketing process.”
Key Stats (on next page)…
Revenue increased 10.72% from $73.7 million in the previous quarter. EPS increased to $0.74 in the quarter versus EPS of $-1.08 in the previous quarter.
Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.25 to a profit $0.21. For the current year, the average estimate has moved down from a profit of $1.08 to a loss of $0.09 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)