Techne Earnings: Here’s Why Investors are Selling Shares Now
Techne Corp. (NASDAQ:TECH) 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. Shares are down 1.09%.
Techne Corp. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 2.22% to $0.88 in the quarter versus EPS of $0.90 in the year-earlier quarter.
Revenue: Decreased 3.15% to $80.99 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Techne Corp. reported adjusted EPS income of $0.88 per share. By that measure, the company missed the mean analyst estimate of $0.90. It missed the average revenue estimate of $84 million.
Quoting Management: There was no comment from management.
Key Stats (on next page)…
Revenue increased 7.87% from $75.08 million in the previous quarter. EPS increased 18.92% from $0.74 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 $0.87 to a profit $0.84. For the current year, the average estimate has moved down from a profit of $3.30 to a profit of $3.22 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)