Celadon Group Inc. (NYSE:CGI) 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.
Celadon Group Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 24% to $0.19 in the quarter versus EPS of $0.25 in the year-earlier quarter.
Revenue: Decreased 2.4% to $149.63 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Celadon Group Inc. reported adjusted EPS income of $0.19 per share. By that measure, the company missed the mean analyst estimate of $0.26. It missed the average revenue estimate of $151.68 million.
Quoting Management: Paul Will, President and Chief Executive Officer, made the following comments: “The quarter was impacted by several factors when compared with prior year. Due to leap year in 2012 and an early Easter in 2013, there were basically two fewer business days. In addition, winter weather storms in 2013 resulted in decreased availability for freight movements compared with the prior year. Our benefits expense related to medical claims negatively impacted the 2013 quarter by approximately three cents in earnings per share compared with prior year due to some unusually high medical claims that were incurred in the quarter.”
Key Stats (on next page)…