Dominion Diamond Earnings: Everything You Must Know Now
Dominion Diamond Corporation (NYSE:DDC) delivered a profit and missed Wall Street’s expectations.
Dominion Diamond Corporation Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 5.26% to $0.18 in the quarter versus EPS of $0.19 in the year-earlier quarter.
Revenue: Decreased 49.03% to $110.1 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Dominion Diamond Corporation reported adjusted EPS income of $0.18 per share. By that measure, the company missed the mean analyst estimate of $0.24.
Quoting Management: Robert Gannicott, Chairman and Chief Executive Officer stated: “The last year, and this first quarter, has been a time of great positive change for the Company, including changing its very identity to “Dominion Diamond Corporation”. This change reflects a focus on the production, sorting and sale of diamonds from Northern Canada, a region that we know and understand well. The acquisition of the Ekati Mine, and its operating team, is expected to close next week giving us operational control of both a producing mine and development opportunities in the large scale resources on the Ekati property. Together with our exploration acreage adjacent to the Ekati and Diavik properties, this positions us from grass-roots exploration through development opportunities. We also become the largest supplier of Canadian diamonds sold through an expert sorting and marketing chain that we have perfected through the years of Diavik production.”
Key Stats (on next page)…
Revenue decreased 38.97% from $180.4 million in the previous quarter. EPS increased 350% from $0.04 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 $0.09 to a profit $0.12. For the current year, the average estimate has moved up from a profit of $0.47 to a profit of $0.48 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)