Ferro Earnings: Here’s Why Investors are Selling Shares Now
Ferro Corp. (NYSE:FOE) had a loss and missed 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. Shares are down 2.6%.
Ferro Corp. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $-0.02 in the quarter versus EPS of $0.05 in the year-earlier quarter.
Revenue: Decreased 9.57% to $435.45 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Ferro Corp. reported adjusted EPS loss of $0.02 per share. By that measure, the company missed the mean analyst estimate of $0.11. It missed the average revenue estimate of $444.44 million.
Key Stats (on next page)…
EPS decreased to $-0.02 in the quarter versus EPS of $0.10 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 $0.10 to a profit $0.09. For the current year, the average estimate has moved up from a profit of $0.31 to a profit of $0.36 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)