Alaska Communications Systems Group Earnings: Here’s Why Investors are Happy Now
Alaska Communications Systems Group Inc. (NASDAQ:ALSK) 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. Shares are up 15.69%.
Alaska Communications Systems Group Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $0.8 in the quarter versus EPS of $-0.02 in the year-earlier quarter.
Revenue: Rose 8.54% to $97.7 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Alaska Communications Systems Group Inc. reported adjusted EPS income of $0.8 per share. By that measure, the company beat the mean analyst estimate of $0.07. It beat the average revenue estimate of $91.56 million.
Quoting Management: “This quarter we also initiated a fiber-to-the-node build plan to significantly improve our broadband capabilities for business customers and sustain our long-term growth. We start with Anchorage this year and roll out to other areas of the state over the next couple of years. We are delivering on our business plan of growth and deleveraging, with an uncompromising focus on creating long-term value for our shareholders, customers and employees,” said Anand Vadapalli, President and CEO of Alaska Communications.
Key Stats (on next page)…
Revenue increased 7.29% from $91.06 million in the previous quarter. EPS increased 1042.86% from $0.07 in the previous quarter.
Looking Forward: Analysts have a more positive outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has risen from a profit of $0.07 to a profit $0.08. For the current year, the average estimate has moved up from a profit of $0.23 to a profit of $0.27 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)