Education Realty Trust Inc. (NYSE:EDR) delivered a profit and met Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
Education Realty Trust Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 7.69% to $0.14 in the quarter versus EPS of $0.13 in the year-earlier quarter.
Revenue: Rose 24.97% to $46.6 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Education Realty Trust Inc. reported adjusted EPS income of $0.14 per share. By that measure, the company met the mean analyst estimate of $0.14. It beat the average revenue estimate of $41.97 million.
Quoting Management: “We continue to focus our efforts on effectively executing our preleasing strategy and are currently preleased for fall 2013,” commented Randy Churchey, EdR’s president and chief executive officer. “At the same time, our strong and well positioned balance sheet is supporting the efforts of our development team, which secured two new projects we announced for 2014 delivery. Furthermore, significant progress is being made on our 2015 delivery of 1,610 beds at the University of Kentucky.”
Key Stats (on next page)…