Global Geophysical Services Earnings: Here’s Why Investors are Buying Shares Now
Global Geophysical Services, Inc. (NYSE:GGS) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 29.91%.
Global Geophysical Services, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 73.68% to $0.05 in the quarter versus EPS of $0.19 in the year-earlier quarter.
Revenue: Decreased 13.22% to $83.4 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Global Geophysical Services, Inc. reported adjusted EPS income of $0.05 per share. By that measure, the company beat the mean analyst estimate of $-0.09. It beat the average revenue estimate of $63.14 million.
Quoting Management: “We are making progress on the priorities that I outlined for our team,” commented Richard White, CEO. “Our growth in backlog corresponded with the plans to alter the revenue mix to a greater weighting of Proprietary Services. We have also geographically diversified our mix of backlog such that each of our three major operating regions represents a comparable share of the order book. As we look forward, we see data acquisition revenues from international operations representing the majority of the company’s revenue streams.”
Key Stats (on next page)…
Revenue increased 50.84% from $55.29 million in the previous quarter. EPS increased to $0.05 in the quarter versus EPS of $-0.26 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 $0.11 to a loss $0.03. For the current year, the average estimate has moved down from a profit of $0.42 to a loss of $0.17 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)