Engility Holdings Inc (NYSE:EGL) 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.
Engility Holdings Inc Earnings Cheat Sheet
Revenue: Decreased 0% to $225.8 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: reported adjusted EPS income of $0.04 per share. By that measure, the company missed the mean analyst estimate of $0.78. It missed the average revenue estimate of $380.26 million.
Quoting Management: “Our first quarter results were in-line with our plan,” said Tony Smeraglinolo, President and CEO of Engility. “Additionally, our cost savings initiatives are beginning to positively impact our margins and our ability to win new and recompete business. During the quarter, we won several major recompete contracts, which contributed to another solid quarter of funded orders. We attribute this success to our differentiated low-cost business model, our strong track record of delivering superior services to our customers and our exceptional alignment with our customers’ mission priorities.”
Key Stats (on next page)…