Lender Processing Services, Inc. (NYSE:LPS) 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.
Lender Processing Services, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 11.86% to $0.66 in the quarter versus EPS of $0.59 in the year-earlier quarter.
Revenue: Decreased 6.79% to $471.66 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Lender Processing Services, Inc. reported adjusted EPS income of $0.66 per share. By that measure, the company beat the mean analyst estimate of $0.65. It missed the average revenue estimate of $479.92 million.
Quoting Management: “LPS’ strong first quarter results demonstrate the successful execution of our strategy to deliver technology-driven solutions that our clients need to address evolving mortgage industry requirements,” said Hugh Harris, president and chief executive officer of LPS.
Key Stats (on next page)…