Crosstex Energy LP Earnings: Here’s Why Investors are Ambivalent Now
Crosstex Energy LP (NASDAQ:XTEX) had a loss 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. Shares are down 0%.
Crosstex Energy LP Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $-0.15 in the quarter versus EPS of $-0.04 in the year-earlier quarter.
Revenue: Rose 19.9% to $445.69 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Crosstex Energy LP reported adjusted EPS loss of $0.15 per share. By that measure, the company beat the mean analyst estimate of $-0.25. It missed the average revenue estimate of $486.43 million.
Quoting Management: “We are pleased with our solid first-quarter performance. We continued to execute our business plan successfully and are on track to achieve substantial growth. We look forward to the start-up of the first phase of our Cajun-Sibon natural gas liquids pipeline expansion,” said Barry E. Davis, Crosstex President and Chief Executive Officer.
Key Stats (on next page)…