Steris Corp. (NYSE:STE) 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.
Steris Corp. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 18.64% to $0.7 in the quarter versus EPS of $0.59 in the year-earlier quarter.
Revenue: Rose 9.72% to $428.2 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Steris Corp. reported adjusted EPS income of $0.7 per share. By that measure, the company beat the mean analyst estimate of $0.65. It beat the average revenue estimate of $405.79 million.
Quoting Management: “We began this year with the expectation that fiscal 2013 would be a platform for growth,” said Walt Rosebrough, President and Chief Executive Officer of STERIS. “The people of STERIS executed our strategy and delivered performance that exceeded our expectations on both the top and bottom-line despite challenging year-over-year comparisons, market weakness in Europe and the first quarter of the Medical Device Excise Tax. We plan to carry this momentum into fiscal 2014 to grow revenue and profits in-line with our long-term goals.”
Key Stats (on next page)…
Revenue increased 12.56% from $380.41 million in the previous quarter. EPS increased 20.69% from $0.58 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 $0.57 to a profit $0.58. For the current year, the average estimate has moved up from a profit of $2.22 to a profit of $2.3 over the last ninety days.
Stocks with improving earnings metrics are worthy of your extra attention. In fact, “E = Earnings Are Increasing Quarter-Over-Quarter” is a core component of our CHEAT SHEET investing framework for this very reason. Don’t waste another minute – click here and get our CHEAT SHEET stock picks now.
(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)