Universal Forest Products Inc. (NASDAQ:UFPI) delivered a profit and beat Wall Street’s expectations, AND met the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.
Universal Forest Products Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 23.81% to $0.26 in the quarter versus EPS of $0.21 in the year-earlier quarter.
Revenue: Rose 21.31% to $554.5 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Universal Forest Products Inc. reported adjusted EPS income of $0.26 per share. By that measure, the company beat the mean analyst estimate of $0.06. It met the average revenue estimate of $554.5 million.
Quoting Management: I am very pleased with the efforts of our people, who helped create one of the strongest first quarters in our history. We overcame more typical winter weather conditions in 2013 to beat 2012 results, which were aided by mild weather, said CEO Matthew J. Missad. More importantly, we were able to beat our internal goals for the quarter and are well-positioned going into our traditional selling season.
Key Stats (on next page)…
Revenue increased 17.79% from $470.76 million in the previous quarter. EPS increased to $0.26 in the quarter versus EPS of $-0.08 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 $0.88 to a profit $0.81. For the current year, the average estimate has moved down from a profit of $1.81 to a profit of $1.58 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)