Unisys Earnings: Here’s Why the Stock is Rising Now
Unisys Corporation (NYSE:UIS) 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 5.17%.
Unisys Corporation Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 8.08% to $0.91 in the quarter versus EPS of $0.99 in the year-earlier quarter.
Revenue: Decreased 6.81% to $858.6 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Unisys Corporation reported adjusted EPS income of $0.91 per share. By that measure, the company beat the mean analyst estimate of $0.44. It beat the average revenue estimate of $838.27 million.
Quoting Management: “We were pleased to see the sequential improvement in our results,” said Unisys Chairman and CEO Ed Coleman. “Our technology business delivered a strong revenue performance, led by higher sales of our ClearPath family of enterprise software and servers. In our services business, revenue and margins declined year over year as demand remained soft in a challenging IT spending environment. However, we made progress in further strengthening our industry solutions and in building our application managed services capabilities. We are also making additional investments for growth in mission-critical computing, cybersecurity, cloud computing, IT outsourcing, and building our reseller channel.”
Key Stats (on next page)…
Revenue increased 6.01% from $809.9 million in the previous quarter. EPS increased to $0.91 in the quarter versus EPS of $-0.77 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 $0.91 to a profit $0.77. For the current year, the average estimate has moved down from a profit of $3.5 to a profit of $1.64 over the last ninety days.
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