Ameriprise Financial Earnings: Here’s Why Shares are Up Now
Ameriprise Financial Inc. (NYSE:AMP) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are up 0.5%.
Ameriprise Financial Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 49.56% to $1.69 in the quarter versus EPS of $1.13 in the year-earlier quarter.
Revenue: Rose 6.97% to $2.7 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Ameriprise Financial Inc. reported adjusted EPS income of $1.69 per share. By that measure, the company beat the mean analyst estimate of $1.62. It missed the average revenue estimate of $2.77 billion.
Quoting Management: “Ameriprise delivered another quarter of strong financial results,” said Jim Cracchiolo, chairman and chief executive officer. “Revenues and earnings were up nicely; in fact, our operating return on equity reached an all-time high of 17.9 percent.”
Key Stats (on next page)…
Revenue increased 0.04% from $2.7 billion in the previous quarter. EPS increased 6.29% from $1.59 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 $1.67 to a profit $1.68. For the current year, the average estimate has moved down from a profit of $6.60 to a profit of $6.53 over the last ninety days.
Stocks with improving earnings metrics are worthy of your extra attention. In fact, “E = Earnings Are Increasing Quarter-Over-Quarter” is a core component of our CHEAT SHEET investing framework for this very reason. Don’t waste another minute – click here and get our CHEAT SHEET stock picks now.
(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)