Sun Hydraulics Corp. (NASDAQ:SNHY) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.
Sun Hydraulics Corp. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 9.76% to $0.37 in the quarter versus EPS of $0.41 in the year-earlier quarter.
Revenue: Decreased 7.54% to $51.1 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Sun Hydraulics Corp. reported adjusted EPS income of $0.37 per share. By that measure, the company beat the mean analyst estimate of $0.36. It missed the average revenue estimate of $51.76 million.
Quoting Management: “Sales were in line with our forecast with higher-than expected earnings,” said Allen Carlson, Sun Hydraulics’ President and CEO. “Sales, while down year-over-year, showed sequential improvement, which is our normal seasonal pattern. We expect this trend to continue in the second quarter as we remain optimistic about the global economy.”
Key Stats (on next page)…
Revenue increased 18.18% from $43.24 million in the previous quarter. EPS increased 42.31% from $0.26 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 $0.39 to a profit $0.43. For the current year, the average estimate has moved up from a profit of $1.40 to a profit of $1.48 over the last ninety days.
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