Sun Communities Inc. (NYSE:SUI) 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.
Sun Communities Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 3.33% to $0.93 in the quarter versus EPS of $0.90 in the year-earlier quarter.
Revenue: Rose 28.1% to $103.4 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Sun Communities Inc. reported adjusted EPS income of $0.93 per share. By that measure, the company beat the mean analyst estimate of $0.91. It beat the average revenue estimate of $84.03 million.
Quoting Management: “The Company has grown dramatically while operating metrics continue to set new standards and records with each passing quarter. When we also consider the successful efforts to strengthen the balance sheet, we see a transformed company”, said Gary A. Shiffman, Chairman and CEO. “Our primary goal now is to bring performance to the bottom line through 2013 and 2014″, added Shiffman.”
Key Stats (on next page)…