Haemonetics Corp. (NYSE:HAE) 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.
Haemonetics Corp. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 64.29% to $0.46 in the quarter versus EPS of $0.28 in the year-earlier quarter.
Revenue: Rose 24.38% to $219.5 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Haemonetics Corp. reported adjusted EPS income of $0.46 per share. By that measure, the company missed the mean analyst estimate of $0.47. It missed the average revenue estimate of $232.98 million.
Quoting Management: Brian Concannon, Haemonetics’ President and CEO, commented: “This quarter we made excellent progress advancing the manufacturing transformation elements of our Value Creation & Capture (“VCC”) initiatives. We are encouraged that, at the same time, we were able to drive a 270 basis point improvement in adjusted operating margin, enabling us to deliver profit in line with our expectations and affirm our full year adjusted earnings per share guidance range. This was achieved through productivity and cost management efforts that will later be amplified by the full benefits of the VCC initiatives.”
Key Stats (on next page)…
Revenue decreased 12.18% from $249.94 million in the previous quarter. EPS decreased 4.17% from $0.48 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 $0.49 to a profit $0.57. For the current year, the average estimate has moved up from a profit of $2.02 to a profit of $2.33 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)