DCT Industrial Trust Earnings: Here’s Why Investors are Ambivalent Now

DCT Industrial Trust Inc. (NYSE:DCT) delivered a profit and met 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.

DCT Industrial Trust Inc. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share increased 10% to $0.11 in the quarter versus EPS of $0.10 in the year-earlier quarter.

Revenue: Rose 12.66% to $73.6 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: DCT Industrial Trust Inc. reported adjusted EPS income of $0.11 per share. By that measure, the company missed the mean analyst estimate of $0.11. It beat the average revenue estimate of $73.39 million.

Quoting Management: “We had another successful quarter executing our strategy. Our operating performance is ahead of plan and we completed a number of excellent acquisitions,” said Phil Hawkins, Chief Executive Officer of DCT Industrial. “We are making outstanding progress in our development program. Leasing is ahead of schedule and we continue to grow our pipeline through our recent land acquisitions. Further, I am very pleased with our market teams’ success in acquiring quality assets at attractive returns and selling lower growth, non-strategic buildings. We are reducing the number of markets in which we operate, as well as improving the quality and growth potential of our portfolio.”

Key Stats (on next page)…

Revenue decreased 0.37% from $73.87 million in the previous quarter. EPS increased 0% from $0.11 in the previous quarter.

Looking Forward: Analysts have a neutral outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings is a profit of $0.11 and has not changed. For the current year, the average estimate has moved up from a profit of $0.43 to a profit of $0.44 over the last ninety days.

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