Taylor Capital Group Inc. (NASDAQ:TAYC) delivered a profit and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
Taylor Capital Group Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 69.23% to $0.44 in the quarter versus EPS of $0.26 in the year-earlier quarter.
Revenue: Rose 14.51% to $80.4 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Taylor Capital Group Inc. reported adjusted EPS income of $0.44 per share. By that measure, the company missed the mean analyst estimate of $0.55. It beat the average revenue estimate of $41.78 million.
Quoting Management: “Our results for the first quarter of 2013 reflect the continued successful execution of our diversification strategy,” said Mark A. Hoppe, President and Chief Executive Officer of the Company. “Commercial loans grew by 10% over the past twelve months in extremely competitive markets. Our national equipment financing business, which we launched last summer, has grown to more than $100 million in loans and leases outstanding and recently opened two new offices. Asset based lending grew by $23 million during the quarter and we have grown our commercial real estate loans, as expected, with selective reentry into that market after repositioning our real estate portfolio over the last few years.”
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