Goldcorp Earnings: Here’s Why Shares are Down Now

Goldcorp Inc. (NYSE:GG) delivered a profit 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 1.32%.

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Goldcorp Inc. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share decreased 38% to $0.31 in the quarter versus EPS of $0.50 in the year-earlier quarter.

Revenue: Decreased 24.76% to $1.02 billion from the year-earlier quarter.

Actual vs. Wall St. Expectations: Goldcorp Inc. reported adjusted EPS income of $0.31 per share. By that measure, the company missed the mean analyst estimate of $0.39. It missed the average revenue estimate of $1.32 billion.

Quoting Management: “Our mines performed as planned during the first quarter to provide a good start to 2013,” said Chuck Jeannes, Goldcorp President and Chief Executive Officer. “As previously reported, we expect gold production to increase throughout the year with a corresponding decrease in operating costs as we work through planned lower grades at Peñasquito and Alumbrera, and benefit from the ramp up of production at Pueblo Viejo. Based on this start, we remain quite comfortable with our annual guidance for both gold production and operating costs.”

Key Stats (on next page)…

Revenue decreased 29.27% from $1.44 billion in the previous quarter. EPS decreased 45.61% from $0.57 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 $0.51 to a profit $0.40. For the current year, the average estimate has moved down from a profit of $2.18 to a profit of $1.71 over the last ninety days.

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