Harris Teeter Supermarkets Inc (NYSE:HTSI) 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.
Harris Teeter Supermarkets Inc Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 4.84% to $0.65 in the quarter versus EPS of $0.62 in the year-earlier quarter.
Revenue: Rose 2.89% to $1.19 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Harris Teeter Supermarkets Inc reported adjusted EPS income of $0.65 per share. By that measure, the company missed the mean analyst estimate of $0.68. It missed the average revenue estimate of $1.23 billion.
Quoting Management: Thomas W. Dickson, Chairman of the Board and Chief Executive Officer stated, “We are pleased with our results for the third quarter. Our comparable store sales increase, which was negatively impacted by the shift of both the Easter and Fourth of July Holidays, remained positive despite the fact that we still do not see any meaningful inflation for the current year. In addition, after adjusting for the shift in the holidays, we continue to realize an increase in the number of items sold year-over-year. We believe that our pricing and promotional strategies are effective in driving unit sales while increasing the quarterly gross margin by 32 basis points over the prior year. We remain committed to our customers to deliver outstanding values and excellent customer service.”
Key Stats (on next page)…
Revenue increased 1.45% from $1.17 billion in the previous quarter. EPS decreased 2.99% from $0.67 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 $0.6 to a profit $0.61. For the current year, the average estimate has moved up from a profit of $2.36 to a profit of $2.42 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)