Exelis Earnings: Everything You Must Know Now

Exelis (NYSE:XLS) delivered a profit and met Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.

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Exelis Earnings Cheat Sheet

Results: Adjusted Earnings Per Share decreased 51.06% to $0.23 in the quarter versus EPS of $0.47 in the year-earlier quarter.

Revenue: Decreased 16.61% to $1.19 billion from the year-earlier quarter.

Actual vs. Wall St. Expectations: Exelis reported adjusted EPS income of $0.23 per share. By that measure, the company met the mean analyst estimate of $0.23. It missed the average revenue estimate of $1.21 billion.

Quoting Management: “Our first quarter results were in line with expectations. We secured several significant orders from international customers and our restructuring efforts are proceeding on schedule,” said Exelis CEO and President David F. Melcher. “While challenges and uncertainties remain within the U.S. defense and aerospace market, we continue to focus on cost improvement, operational efficiency and delivering value to our customers and shareholders.”

Key Stats (on next page)…

Revenue decreased 12.93% from $1.36 billion in the previous quarter. EPS decreased 51.06% from $0.47 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 $0.40 to a profit $0.37. For the current year, the average estimate has moved down from a profit of $1.64 to a profit of $1.47 over the last ninety days.

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

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