Buckeye Technologies Inc. (NYSE:BKI) 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.
Buckeye Technologies Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 20.9% to $0.53 in the quarter versus EPS of $0.67 in the year-earlier quarter.
Revenue: Decreased 9.91% to $195.56 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Buckeye Technologies Inc. reported adjusted EPS income of $0.53 per share. By that measure, the company beat the mean analyst estimate of $0.50. It missed the average revenue estimate of $197.97 million.
Quoting Management: Chairman and Chief Executive Officer John B. Crowe said, “Our third quarter fiscal 2013 earnings were better than expected, with adjusted EPS* exceeding our guidance by $0.04. Our nonwovens segment results were better than expected and SRA spending was lower than expected for the quarter.”
Key Stats (on next page)…
Revenue decreased 4.29% from $204.33 million in the previous quarter. EPS decreased 11.67% from $0.60 in the previous quarter.
Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.71 to a profit $0.64. For the current year, the average estimate has moved down from a profit of $2.69 to a profit of $2.48 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)