Taubman Centers Earnings: Here’s Why Investors are Excited Now
Taubman Centers Inc. (NYSE:TCO) 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 0.03%.
Taubman Centers Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 26.58% to $1 in the quarter versus EPS of $0.93 in the year-earlier quarter.
Revenue: Rose 23.48% to $209.71 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Taubman Centers Inc. reported adjusted EPS income of $1 per share. By that measure, the company beat the mean analyst estimate of $0.97. It beat the average revenue estimate of $187.36 million.
Quoting Management: “2012 was a very productive and successful year for our company,” said Robert S. Taubman, chairman, president and chief executive officer of Taubman Centers. “The core produced tremendous results, and we established a development pipeline that will fuel growth for years to come.”
Key Stats (on next page)…
Revenue increased 10.64% from $189.54 million in the previous quarter. EPS increased 26.58% from $0.79 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 $0.83 to a profit $0.85. For the current year, the average estimate has moved down from a profit of $3.26 to a profit of $3.24 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)