Inergy Earnings: Here’s Why the Stock is Up Now
Inergy, L.P. (NYSE:NRGY) delivered a profit and met 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. Shares are up 0.72%.
Inergy, L.P. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $0.03 in the quarter versus EPS of $-0.15 in the year-earlier quarter.
Revenue: Decreased 68% to $118.9 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Inergy, L.P. reported adjusted EPS income of $0.03 per share. By that measure, the company met the mean analyst estimate of $0.03. It missed the average revenue estimate of $391.75 million.
Quoting Management: “We are pleased with the significant progress we have made to complete the transformational merger between CMLP and NRGM,” said Robert G. Phillips, Chairman, President and Chief Executive Officer of NRGY’s general partner. “The combined partnership will have a diverse platform of midstream assets in virtually every premier shale play in the United States and will provide a full suite of services expanding across the midstream value chain.”
Key Stats (on next page)…