Piper Jaffray Companies Earnings: Everything You Must Know Now

Piper Jaffray Companies (NYSE:PJC) delivered a profit 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.

Piper Jaffray Companies Earnings Cheat Sheet

Results: Adjusted Earnings Per Share increased 150% to $0.25 in the quarter versus EPS of $0.10 in the year-earlier quarter.

Revenue: Decreased 11.81% to $99.7 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Piper Jaffray Companies reported adjusted EPS income of $0.25 per share. By that measure, the company missed the mean analyst estimate of $0.55. It missed the average revenue estimate of $119.75 million.

Quoting Management: “We experienced extremely challenging conditions in the fixed income markets this quarter which adversely impacted our Fixed Income Brokerage business and our results for the quarter. Outside of that business, most of our businesses performed well this quarter led by Asset Management and capital raising in Public Finance and Equities” said Andrew S. Duff, chairman and chief executive officer. “We made significant strategic progress during the quarter with our acquisitions of Seattle Northwest in public finance, and Edgeview Partners in M&A, both of which closed in the past week.”

Key Stats (on next page)…

Revenue decreased 15.62% from $118.15 million in the previous quarter. EPS decreased 58.33% from $0.60 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 a profit of $0.54 to a profit $0.56. For the current year, the average estimate has moved up from a profit of $2.52 to a profit of $2.65 over the last ninety days.

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