ITT Educational Services Earnings: Double-Digit Revenue Decline Hits Shares

ITT Educational Services Inc. (NYSE:ESI) had a loss 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 2.95%.

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ITT Educational Services Inc. Earnings Cheat Sheet

Results: Net loss of $9.5 million (loss of 41 cents per diluted share) in the quarter versus a net loss of $76.05 million in the year-earlier quarter.

Revenue: Decreased 18.32% to $300.8 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: ITT Educational Services Inc. reported adjusted net loss of 41 cents per share. By that measure, the company missed the mean analyst estimate of $1.81. It missed the average revenue estimate of $313.64 million.

Key Stats:

Revenue decreased 4.43% from $314.75 million in the previous quarter. Net income increased to $0 in the quarter versus a net loss of $42.86 million 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 $1.72 to a profit $1.42. For the current year, the average estimate has moved down from a profit of $8.23 to a profit of $8.07 over the last ninety days.

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(Company fundamentals provided by Xignite Financials.)