Orion Marine Group Earnings: Here’s Why Investors are Happy Now
Orion Marine Group, Inc (NYSE:ORN) had a loss 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 up 7.19%.
Orion Marine Group, Inc Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $-0.04 in the quarter versus EPS of $-0.23 in the year-earlier quarter.
Revenue: Rose 47.57% to $75.1 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Orion Marine Group, Inc reported adjusted EPS loss of $0.04 per share. By that measure, the company beat the mean analyst estimate of $-0.07. It beat the average revenue estimate of $72.28 million.
Quoting Management: “Our first quarter results reflect a solid year-over-year increase in revenue and EBITDA,” said Mike Pearson, Orion Marine Group’s President and Chief Executive Officer. “As expected, we did encounter gaps between certain projects which resulted in a decline in the utilization of our dredging assets in the first quarter. Overall we were pleased with our results for the quarter and we remain encouraged by the market outlook for the remainder of 2013.”
Key Stats (on next page)…
Revenue decreased 23.86% from $98.63 million in the previous quarter. EPS decreased to $-0.04 in the quarter versus EPS of $0.08 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 $0 to a profit $0.02. For the current year, the average estimate has moved up from $0 to a profit of $0.10 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)