McMoRan Exploration Earnings: A Mixed Reaction
McMoRan Exploration Co. (NYSE:MMR) had a loss and still managed to top the analyst profit estimate, YET 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 0.06%.
McMoRan Exploration Co. Earnings Cheat Sheet
Results: Reported a net loss of $1.2 million (loss of 1 cent per diluted share) in the quarter versus a net loss of $38.74 million in the year-earlier quarter.
Revenue: Decreased 31.02% to $84.1 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: McMoRan Exploration Co. reported adjusted net loss of 1 cent per share. By that measure, the company beat the mean analyst estimate of a net loss of 12 cents per share. It missed the average revenue estimate of $90.03 million.
Revenue decreased 8.37% from $91.78 million in the previous quarter. Net income increased to $0 in the quarter versus a net loss of $53.71 million in the previous quarter.
Looking Forward: Analysts have a neutral outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings is a loss of $0 and has not changed. For the current year, the average estimate is a loss of $0, which is the same with that ninety days ago.
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(Company fundamentals provided by Xignite Financials.)