Calgon Carbon Earnings: Here’s Why Investors are Excited Now
Calgon Carbon Corporation (NYSE:CCC) 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. Shares are up 1.73%.
Calgon Carbon Corporation Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 26.32% to $0.24 in the quarter versus EPS of $0.19 in the year-earlier quarter.
Revenue: Decreased 5.39% to $140.4 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Calgon Carbon Corporation reported adjusted EPS income of $0.24 per share. By that measure, the company beat the mean analyst estimate of $0.21. It missed the average revenue estimate of $142.73 million.
Quoting Management: Randy Dearth, Calgon Carbon’s President and Chief Executive Officer, commented on the results, “We continue to make progress with our $30 million cost improvement initiative – both the pace at which we are realizing results, as well the magnitude of the reduction in costs and expenses. I am pleased with the results of our efforts to increase our income from operations. The comparison of quarter-over-quarter and year-over-year results clearly demonstrates our success.
“We will continue to aggressively implement our cost improvement program in advance of the expected step change in sales as compliance with mercury removal and ballast water disinfection regulations draws near.”
Key Stats (on next page)…