Wageworks Inc (NYSE:WAGE) 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 down 1.81%.
Wageworks Inc Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 33.33% to $0.2 in the quarter versus EPS of $0.15 in the year-earlier quarter.
Revenue: Rose 24.62% to $54.56 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Wageworks Inc reported adjusted EPS income of $0.2 per share. By that measure, the company beat the mean analyst estimate of $0.17. It beat the average revenue estimate of $52.43 million.
Quoting Management: “We are very excited to be working with a company of Ceridian’s outstanding reputation and market reach,” said Joe Jackson, CEO, WageWorks, Inc. “This alliance will allow us to bring WageWorks’ tax-saving Consumer-Directed Benefits to the large number of employers and employees that are already working with Ceridian and taking advantage of their industry-leading offerings in human capital management.”
Key Stats (on next page)…
Revenue decreased 2.78% from $56.12 million in the previous quarter. EPS decreased 0% from $0.20 in the previous quarter.
Looking Forward: Analysts have a neutral outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings is a profit of $0.16 and has not changed. For the current year, the average estimate has moved up from a profit of $0.64 to a profit of $0.68 over the last ninety days.