Genesis Energy LP (NYSE:GEL) 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.
Genesis Energy LP Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 3.7% to $0.28 in the quarter versus EPS of $0.27 in the year-earlier quarter.
Revenue: Rose 22.97% to $1.15 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Genesis Energy LP reported adjusted EPS income of $0.28 per share. By that measure, the company missed the mean analyst estimate of $0.35. It beat the average revenue estimate of $1.13 billion.
Quoting Management: Grant Sims, CEO of Genesis Energy, said, “Our measured growth has allowed us to increase distributions to our unitholders for the thirty-first consecutive quarter, twenty-six of which have been 10% or greater over the prior year quarter and none were less than 8.7%.”
Key Stats (on next page)…
Revenue decreased 9.82% from $1.27 billion in the previous quarter. EPS decreased 17.65% from $0.34 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 $0.39 to a profit $0.36. For the current year, the average estimate has moved down from a profit of $1.57 to a profit of $1.52 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)