Standard Parking Corp. (NASDAQ:STAN) 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.
Standard Parking Corp. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 45.24% to $0.23 in the quarter versus EPS of $0.42 in the year-earlier quarter.
Revenue: Rose 10.97% to $211.89 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Standard Parking Corp. reported adjusted EPS income of $0.23 per share. By that measure, the company beat the mean analyst estimate of $0.18. It beat the average revenue estimate of $211.88 million.
Quoting Management: James A. Wilhelm, President and Chief Executive Officer, stated, “We’re very pleased with our strong second quarter performance and sequential increase in both gross profit and adjusted earnings per share, which exceeded expectations. These positive results were achieved in addition to the progress made in our ongoing integration-related activities, and we continue to credit the focus and unwavering support of our combined, dedicated work force for its efforts.”
Key Stats (on next page)…
Revenue decreased 42.73% from $370.01 million in the previous quarter. EPS increased 109.09% from $0.11 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 $0.22 to a profit $0.23. For the current year, the average estimate has moved down from a profit of $0.78 to a profit of $0.77 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)