First Niagara Financial Group Inc. (NASDAQ:FNFG) 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.
First Niagara Financial Group Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 10.53% to $0.17 in the quarter versus EPS of $0.19 in the year-earlier quarter.
Revenue: Decreased 1.47% to $355.4 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: First Niagara Financial Group Inc. reported adjusted EPS income of $0.17 per share. By that measure, the company missed the mean analyst estimate of $0.17. It missed the average revenue estimate of $360.94 million.
Quoting Management: “Our first-quarter results are evidence of our continued strong fundamentals and a focus on enhancing shareholder value,” said Gary Crosby, Interim President and Chief Executive Officer. “We are driving profitable growth by enabling our people to provide our customers what they need every day, and focusing on the efficiency and effectiveness of our organization as never before. In 2013, it is “business as usual” at First Niagara as we continue to execute our existing strategic plan, focusing on managing expenses, maintaining our strong credit quality and maximizing the company’s potential in the diverse and attractive markets we serve.”
Key Stats (on next page)…
Revenue decreased 5.33% from $375.42 million in the previous quarter. EPS decreased 10.53% from $0.19 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 $0.19 to a profit $0.18. For the current year, the average estimate has moved down from a profit of $0.76 to a profit of $0.75 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)