Globe Specialty Metals, Inc. (NASDAQ:GSM) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.
Globe Specialty Metals, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 47.06% to $0.09 in the quarter versus EPS of $0.17 in the year-earlier quarter.
Revenue: Decreased 5.53% to $181.1 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Globe Specialty Metals, Inc. reported adjusted EPS income of $0.09 per share. By that measure, the company beat the mean analyst estimate of $0.03. It missed the average revenue estimate of $189.77 million.
Quoting Management: Globe CEO Jeff Bradley commented, “We are pleased with the improvement in our silicon metal operating efficiencies from the third quarter as we completed our maintenance outages and realized the benefits from them. We are still very active in our pursuit of acquisitions and our new credit facility will provide us with increased flexibility to pursue these growth objectives.”
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