Buckeye Technologies Inc. (NYSE:BKI) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.
Buckeye Technologies Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 20.9% to $0.53 in the quarter versus EPS of $0.67 in the year-earlier quarter.
Revenue: Decreased 9.91% to $195.56 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Buckeye Technologies Inc. reported adjusted EPS income of $0.53 per share. By that measure, the company beat the mean analyst estimate of $0.50. It missed the average revenue estimate of $197.97 million.
Quoting Management: Chairman and Chief Executive Officer John B. Crowe said, “Our third quarter fiscal 2013 earnings were better than expected, with adjusted EPS* exceeding our guidance by $0.04. Our nonwovens segment results were better than expected and SRA spending was lower than expected for the quarter.”
Key Stats (on next page)…