URS Corporation (NYSE:URS) 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 up 0.84%.
URS Corporation Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 10.28% to $0.96 in the quarter versus EPS of $1.07 in the year-earlier quarter.
Revenue: Rose 18.67% to $2.8 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: URS Corporation reported adjusted EPS income of $0.96 per share. By that measure, the company missed the mean analyst estimate of $1.12. It missed the average revenue estimate of $2.92 billion.
Quoting Management: Commenting on the Company’s financial results, Martin M. Koffel, Chairman and Chief Executive Officer, stated: “Overall results in the quarter were in line with our expectations. Revenues were driven by our strategy of diversifying across private and public market sectors, including our recent expansion in oil and gas. We expect that operating income quarter-to-quarter will be uneven due to the diverse size and scope of our operations and large projects, and this is reflected in the first quarter results. Operating cash flow was particularly robust in the quarter. We generated $50 million in operating cash flow, which we continue to use to support organic growth and return value to stockholders. We repurchased one million shares during the quarter and paid a dividend of $0.20 per share. Based on our current operations, the book of business in hand and pending proposals, we remain on track to achieve our guidance for the year.”
Key Stats (on next page)…
Revenue decreased 5.73% from $2.97 billion in the previous quarter. EPS increased 1.05% from $0.95 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 $1.12 to a profit $1.08. For the current year, the average estimate has moved down from a profit of $4.51 to a profit of $4.46 over the last ninety days.
Stocks with improving earnings metrics are worthy of your extra attention. In fact, “E = Earnings Are Increasing Quarter-Over-Quarter” is a core component of our CHEAT SHEET investing framework for this very reason. Don’t waste another minute – click here and get our CHEAT SHEET stock picks now.
(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)