CoreLogic Earnings: Here’s Why the Stock is Up Now
CoreLogic, Inc. (NYSE:CLGX) 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 1.21%.
CoreLogic, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 40.63% to $0.45 in the quarter versus EPS of $0.32 in the year-earlier quarter.
Revenue: Rose 10.2% to $397.2 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: CoreLogic, Inc. reported adjusted EPS income of $0.45 per share. By that measure, the company beat the mean analyst estimate of $0.38. It beat the average revenue estimate of $384.38 million.
Quoting Management: “CoreLogic is off to a very strong start in 2013. We delivered double-digit top-line growth by capitalizing on an expanding number of opportunity areas presented by a gradually improving housing market. We also boosted margins through our relentless focus on cost productivity,” said Anand Nallathambi, President and Chief Executive Officer of CoreLogic. “Continued strengthening in U.S. housing market fundamentals, low interest rates and the recently announced HARP extension should support top-line growth at improving margins throughout the remainder of 2013. Over the course of the year, we expect to continue to aggressively reinvest in strategic growth areas and our technology transformation initiatives, and to return capital to our shareholders.”
Key Stats (on next page)…
Revenue decreased 3.72% from $412.55 million in the previous quarter. EPS increased 25% from $0.36 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 $0.43 to a profit $0.46. For the current year, the average estimate has moved up from a profit of $1.61 to a profit of $1.70 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)