Regal Entertainment Group (NYSE:RGC) delivered a profit and met 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.
Regal Entertainment Group Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 56.67% to $0.13 in the quarter versus EPS of $0.30 in the year-earlier quarter.
Revenue: Decreased 6.15% to $642.8 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Regal Entertainment Group reported adjusted EPS income of $0.13 per share. By that measure, the company met the mean analyst estimate of $0.13. It missed the average revenue estimate of $652.72 million.
Quoting Management: “In a challenging box office environment, we are pleased that the increase in our average concession sales per patron and our focus on controlling variable costs helped drive free cash flow of over $90 million in the first quarter,” stated Amy Miles, CEO of Regal Entertainment Group. “As we look ahead, we are excited about the opportunities created by the recent addition of over 800 screens to our circuit and the films scheduled for release in the upcoming summer movie season.”
Key Stats (on next page)…
Revenue decreased 11.1% from $723.1 million in the previous quarter. EPS decreased 45.83% from $0.24 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 $0.31 and has not changed. For the current year, the average estimate has moved up from a profit of $0.95 to a profit of $0.99 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)