Lehigh Gas Partners (NYSE:LGP) delivered a profit and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.
Lehigh Gas Partners Earnings Cheat Sheet
Revenue: Rose 6.05% to $487.7 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Lehigh Gas Partners reported adjusted EPS income of $0.36 per share. By that measure, the company missed the mean analyst estimate of $0.37. It missed the average revenue estimate of $532.06 million.
Quoting Management: “The Partnership posted strong second quarter financial results. We continue to successfully execute our core strategy, as evident by our financial results and our recent announcement of two asset acquisitions,” said Chairman and CEO Joe Topper. “I am also pleased to announce our $0.025 per unit quarterly distribution increase, which is our second consecutive quarterly distribution increase,” Topper added.
Key Stats (on next page)…
Revenue increased 3.45% from $471.44 million in the previous quarter. EPS increased 44% from $0.25 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 $0.51 to a profit $0.36. For the current year, the average estimate has moved down from a profit of $1.71 to a profit of $1.31 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)