Mitcham Industries Earnings: Everything You Must Know Now
Mitcham Industries Inc. (NASDAQ:MIND) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.
Mitcham Industries Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share were the same at $0.08 in the quarter as EPS of $0.08 in the year-earlier quarter.
Revenue: Decreased 9.45% to $20.9 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Mitcham Industries Inc. reported adjusted EPS income of $0.08 per share. By that measure, the company beat the mean analyst estimate of $0.02. It missed the average revenue estimate of $21.15 million.
Key Stats (on next page)…
Revenue decreased 23.42% from $27.29 million in the previous quarter. EPS decreased 83.33% from $0.48 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 $0.29 to a profit $0.24. For the current year, the average estimate has moved down from a profit of $1.38 to a profit of $1.29 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)