Career Education Corp. (NASDAQ:CECO) had a loss 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.
Career Education Corp. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $-0.12 in the quarter versus EPS of $0.51 in the year-earlier quarter.
Revenue: Decreased 21.57% to $340.5 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Career Education Corp. reported adjusted EPS loss of $0.12 per share. By that measure, the company beat the mean analyst estimate of $-0.13. It beat the average revenue estimate of $338.21 million.
Quoting Management: “Since joining Career Education a month ago, I believe even more strongly that this organization has the right tools to achieve high levels of academic and financial success,” said Scott W. Steffey, president and chief executive officer. “We are taking the necessary steps to right-size and re-engineer our organization to become more efficient and effective, better reflecting the support structure needed at our current enrollment levels.”
Key Stats (on next page)…
Revenue decreased 3.65% from $353.41 million in the previous quarter. EPS increased to $-0.12 in the quarter versus EPS of $-0.35 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 loss of $0.23 to a loss $0.45. For the current year, the average estimate has moved down from a loss of $0.83 to a loss of $1.41 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)