Susser Petroleum Partners LP (:SUSP) 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.
Susser Petroleum Partners LP Earnings Cheat Sheet
Revenue: Rose 2.9% to $1.12 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Susser Petroleum Partners LP reported adjusted EPS income of $0.44 per share. By that measure, the company beat the mean analyst estimate of $0.42. It missed the average revenue estimate of $1.17 billion.
Quoting Management: “We are pleased to announce the first increase in our quarterly distribution rate since our IPO,” said Sam L. Susser, Chairman and Chief Executive Officer. “Even with the increase, our distribution coverage for the quarter was a very healthy 1.2 times. We anticipate continued growth in fuel volumes and rental income for the foreseeable future, which should position us for additional distribution increases in the future.”
Key Stats (on next page)…
Revenue increased 3.41% from $1.08 billion in the previous quarter. EPS increased 15.79% from $0.38 in the previous quarter.
Looking Forward: Analysts have a more positive outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has risen from a profit of $0.43 to a profit $0.45. For the current year, the average estimate has moved up from a profit of $1.67 to a profit of $1.69 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)