URS Corporation (NYSE:URS) 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.
URS Corporation Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 26.39% to $0.91 in the quarter versus EPS of $0.72 in the year-earlier quarter.
Revenue: Rose 3.76% to $2.79 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: URS Corporation reported adjusted EPS income of $0.91 per share. By that measure, the company missed the mean analyst estimate of $0.96. It missed the average revenue estimate of $2.87 billion.
Quoting Management: Martin M. Koffel, Chairman and Chief Executive Officer, stated: “URS delivered another quarter of year-on-year revenue growth, profitability and strong cash flows, despite the unprecedented weather conditions and flooding in western Canada, which halted work on numerous oil & gas job sites in May and June. With the improvement in ground conditions since then, we are now mobilized on all sites that were affected and are also benefiting from increased project work resulting from a favorable oil price environment. Infrastructure revenues increased by 9% during the second quarter, reflecting the recovery of this market, while results for our other market sectors – power, industrial and federal – were in line with our expectations for the quarter.”
Key Stats (on next page)…