PetroLogistics (NYSE:PDH) had a loss and missed Wall Street’s expectations, AND met the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.
PetroLogistics Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $0.00 in the quarter versus EPS of $0.46 in the year-earlier quarter.
Revenue: Decreased 17.75% to $159.4 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: PetroLogistics reported adjusted EPS of $0 per share. By that measure, the company missed the mean analyst estimate of $0.26. It met the average revenue estimate of $159.4 million.
Quoting Management: “Although propane-to-propylene spreads were at generally healthy levels over the course of the quarter, an unplanned outage during the month of June negatively impacted results,” said Nathan Ticatch, President and Chief Executive Officer. “Since resuming normal operations the plant has run well, and with continued healthy margins the third quarter has started off on a solid footing.”
Key Stats (on next page)…