Superior Energy Services Inc. (NYSE:SPN) delivered a profit and missed 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.
Superior Energy Services Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 48.19% to $0.43 in the quarter versus EPS of $0.83 in the year-earlier quarter.
Revenue: Decreased 6.73% to $1.16 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Superior Energy Services Inc. reported adjusted EPS income of $0.43 per share. By that measure, the company missed the mean analyst estimate of $0.45. It missed the average revenue estimate of $1.18 billion.
Quoting Management: David Dunlap, President and CEO of the Company, commented, “As previously announced, our decision to relocate pressure pumping equipment coupled with a slowdown in Mexico and weather in North Dakota impacted our results. However, this was partially offset by some underlying positives during the quarter including improved profit margins, increasing Gulf of Mexico activity and execution of our international growth strategy.”
Key Stats (on next page)…
Revenue increased 2.13% from $1.14 billion in the previous quarter. EPS increased 7.5% from $0.40 in the previous quarter.
Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.61 to a profit $0.57. For the current year, the average estimate has moved down from a profit of $2.15 to a profit of $2.01 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)