Western Gas Partners Earnings: Here’s Why the Stock is Up Now
Western Gas Partners Lp (NYSE:WES) 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. Shares are up 0.65%.
Western Gas Partners Lp Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 35.42% to $0.31 in the quarter versus EPS of $0.48 in the year-earlier quarter.
Revenue: Rose 8.27% to $229.8 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Western Gas Partners Lp reported adjusted EPS income of $0.31 per share. By that measure, the company missed the mean analyst estimate of $0.37. It missed the average revenue estimate of $250.46 million.
Quoting Management: “Our first quarter operating performance was in line with our expectations,” said President and Chief Executive Officer, Don Sinclair. “We are pleased by the volume trajectory of our recently acquired Marcellus assets, the over 50 first-quarter well connections in our liquids-rich areas that will drive throughput growth, and the projected start-up of our Brasada facility in June. We maintain the full-year 2013 guidance that we released in February.”
Key Stats (on next page)…