Sun Hydraulics Earnings: Here’s Why the Stock is Up Now

Sun Hydraulics Corp. (NASDAQ:SNHY) 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. Shares are up 0.62%.

Sun Hydraulics Corp. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share increased 4.65% to $0.45 in the quarter versus EPS of $0.43 in the year-earlier quarter.

Revenue: Decreased 2.16% to $55.8 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Sun Hydraulics Corp. reported adjusted EPS income of $0.45 per share. By that measure, the company beat the mean analyst estimate of $0.42. It beat the average revenue estimate of $55.2 million.

Quoting Management: “The second quarter was strong with better than expected earnings due to higher revenues and a $0.01 per share gain resulting from the acquisition of WhiteOak Controls,” said Allen Carlson, Sun’s President and CEO. “On a year-over-year basis, second quarter sales were off a bit in the Americas, flat in Europe and up slightly in Asia.”

Key Stats (on next page)…

Revenue increased 9.28% from $51.06 million in the previous quarter. EPS increased 21.62% from $0.37 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 $0.4 to a profit $0.42. For the current year, the average estimate has moved up from a profit of $1.48 to a profit of $1.52 over the last ninety days.

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