Dril-Quip, Inc. (NYSE:DRQ) 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.
Dril-Quip, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 38.03% to $0.98 in the quarter versus EPS of $0.71 in the year-earlier quarter.
Revenue: Rose 9.08% to $193.2 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Dril-Quip, Inc. reported adjusted EPS income of $0.98 per share. By that measure, the company beat the mean analyst estimate of $0.8. It missed the average revenue estimate of $194.14 million.
Quoting Management: There was no comment from the management.
Key Stats (on next page)…
Revenue increased 2.5% from $188.48 million in the previous quarter. EPS increased 28.95% from $0.76 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 $0.87 to a profit $0.86. For the current year, the average estimate has moved down from a profit of $3.71 to a profit of $3.66 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)