Meredith Earnings: Here’s Why Investors Like These Results

Meredith Corp. (NYSE:MDP) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 0.68%.

Meredith Corp. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share increased 11.94% to $0.75 in the quarter versus EPS of $0.67 in the year-earlier quarter.

Revenue: Rose 3.3% to $386.9 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Meredith Corp. reported adjusted EPS income of $0.75 per share. By that measure, the company beat the mean analyst estimate of $0.72. It beat the average revenue estimate of $384.06 million.

Quoting Management: “Fiscal 2013 was a year of strong growth in revenues, profit and cash flow,” said Meredith Chairman and Chief Executive Officer Stephen M. Lacy. “Our Local Media Group achieved the highest revenue and profit performance in its 65-year history. Our National Media Group grew both advertising and circulation revenues. We strengthened our connection to consumers across media platforms. And importantly, we continued to deliver on our Total Shareholder Return strategy by growing free cash flow and returning more cash to shareholders through increased dividends and share repurchases.”

Key Stats (on next page)…

Revenue increased 4.68% from $369.62 million in the previous quarter. EPS increased 4.17% from $0.72 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 profit of $0.53 and has not changed. For the current year, the average estimate is a profit of $2.88, which is the same with that ninety days ago.

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