Dresser-Rand Group Earnings: Here’s Why Investors are Selling Shares Now
Dresser-Rand Group Inc. (NYSE:DRC) 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 0.27%.
Dresser-Rand Group Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 38.71% to $0.43 in the quarter versus EPS of $0.31 in the year-earlier quarter.
Revenue: Rose 15.81% to $766.4 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Dresser-Rand Group Inc. reported adjusted EPS income of $0.43 per share. By that measure, the company beat the mean analyst estimate of $0.41. It beat the average revenue estimate of $735.23 million.
Quoting Management: Vincent R. Volpe Jr., President and Chief Executive Officer of Dresser-Rand, said, “Our first quarter 2013 financial results were generally in-line with our expectations, with good earnings and aftermarket bookings set against light new units bookings. Additionally, while net working capital increased at quarter end to approximately 13.5% of trailing twelve months sales, looking at scheduled commitments and anticipated receipts from clients, we continue to expect that the average for the year will be at or below 10% of 2013 sales as previously guided. ”
Key Stats (on next page)…