Suburban Propane Partners Increases Sales but Misses Revenue Estimate

Suburban Propane Partners (NYSE: SPH  ) reported earnings on Feb. 7. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended Dec. 29 (Q1), Suburban Propane Partners missed estimates on revenues and whiffed on earnings per share.

Compared to the prior-year quarter, revenue increased significantly and GAAP earnings per share increased significantly.

Margins grew across the board.

Revenue details
Suburban Propane Partners reported revenue of $490.7 million. The six analysts polled by S&P Capital IQ anticipated revenue of $544.9 million on the same basis. GAAP reported sales were 64% higher than the prior-year quarter's $299.9 million.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
EPS came in at $1.11. The nine earnings estimates compiled by S&P Capital IQ averaged $1.28 per share. GAAP EPS of $1.04 for Q1 were 60% higher than the prior-year quarter's $0.65 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Margin details
For the quarter, gross margin was 26.6%, 980 basis points better than the prior-year quarter. Operating margin was 17.2%, 710 basis points better than the prior-year quarter. Net margin was 12.2%, 450 basis points better than the prior-year quarter.

Looking ahead
Next quarter's average estimate for revenue is $705.7 million. On the bottom line, the average EPS estimate is $2.74.

Next year's average estimate for revenue is $1.87 billion. The average EPS estimate is $2.69.

Investor sentiment

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Suburban Propane Partners is hold, with an average price target of $43.00.

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