BankUnited Earnings: Here’s Why the Stock is Rising Now

BankUnited (NYSE:BKU) 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 1.73%.

BankUnited Earnings Cheat Sheet

Results: Adjusted Earnings Per Share increased 8.33% to $0.52 in the quarter versus EPS of $0.48 in the year-earlier quarter.

Revenue: Decreased 17.8% to $164.05 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: BankUnited reported adjusted EPS income of $0.52 per share. By that measure, the company beat the mean analyst estimate of $0.43. It missed the average revenue estimate of $172.11 million.

Quoting Management: John Kanas, Chairman, President and Chief Executive Officer, said, “The New York franchise is off to a very strong start. Combined with the remarkable recovery in the South Florida market, BankUnited is beginning to hit on all cylinders.”

Key Stats (on next page)…

Revenue decreased 15.53% from $194.22 million in the previous quarter. EPS increased 10.64% from $0.47 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 $0.41 to a profit $0.42. For the current year, the average estimate has moved up from a profit of $1.7 to a profit of $1.71 over the last ninety days.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)