G&K Services Earnings: Here’s Why the Stock is Up Now
G&K Services Inc Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 32.69% to $0.69 in the quarter versus EPS of $0.52 in the year-earlier quarter.
Revenue: Rose 3.56% to $226.6 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: reported adjusted EPS income of $0.69 per share. By that measure, the company beat the mean analyst estimate of $0.62. It missed the average revenue estimate of $229.36 million.
Quoting Management: “Our team delivered another terrific quarter, achieving a new all-time high for quarterly earnings per share,” said Douglas A. Milroy, Chief Executive Officer. “The execution of our game plan continues to produce substantial margin improvements. We’re also pleased with the company’s success in managing working capital and converting our improved earnings into strong cash flow.”
Key Stats (on next page)…
Revenue decreased 1.12% from $229.17 million in the previous quarter. EPS increased 1.47% from $0.68 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 $0.65 to a profit $0.66. For the current year, the average estimate has moved up from a profit of $2.5 to a profit of $2.59 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)