OM Group Inc. (NYSE:OMG) delivered a profit and beat 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.
OM Group Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 79.17% to $0.15 in the quarter versus EPS of $0.72 in the year-earlier quarter.
Revenue: Decreased 21.85% to $364.3 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: OM Group Inc. reported adjusted EPS income of $0.15 per share. By that measure, the company beat the mean analyst estimate of $0.04. It beat the average revenue estimate of $287.45 million.
Quoting Management: “We made great progress in the first quarter on both our strategic and business objectives,” said Joe Scaminace, Chairman and Chief Executive Officer of OM Group, Inc. “The sale of the cobalt business and debt pay-down strengthens our balance sheet, providing us with the capacity and flexibility to execute our growth strategy. We returned capital to shareholders in the form of share repurchases, and we recently welcomed David Knowles to our management team as President and Chief Operating Officer.”
Key Stats (on next page)…