Cubic Corporation (NYSE:CUB) 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.
Cubic Corporation Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 40.51% to $0.47 in the quarter versus EPS of $0.80 in the year-earlier quarter.
Revenue: Decreased 1.69% to $313.37 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Cubic Corporation reported adjusted EPS income of $0.47 per share. By that measure, the company missed the mean analyst estimate of $0.7. It missed the average revenue estimate of $315.77 million.
Quoting Management: “While our first quarter reflected some unusual cost items and lower profitability, we continue to make progress on major long-term transit projects and have completed two acquisitions that will provide growth opportunities in our defense and transportation segments in key strategic focus areas,” said William W. Boyle, Chief Executive Officer of Cubic Corporation. “I believe our diversification and strategic focus will differentiate Cubic over the long term.”
Key Stats (on next page)…