Drew Industries Earnings: Here’s Why Investors Like These Results
Drew Industries Inc. (NYSE:DW) 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 up 4.14%.
Drew Industries Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 32.69% to $0.69 in the quarter versus EPS of $0.52 in the year-earlier quarter.
Revenue: Rose 14.34% to $287 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Drew Industries Inc. reported adjusted EPS income of $0.69 per share. By that measure, the company beat the mean analyst estimate of $0.61. It beat the average revenue estimate of $283 million.
Quoting Management: “Our operating profit margins improved sequentially in the second quarter of 2013 primarily due to efficiency improvements implemented by management, as well as the benefits of spreading fixed costs over a seasonally larger sales base and seasonally lower payroll taxes,” said Jason Lippert, Drew’s Chief Executive Officer. “This sequential margin gain was greater than originally expected, as many of the improvements implemented by management resulted in efficiency gains sooner than anticipated. We were confident that the steps we had taken to meet anticipated customer demand and improve profitability were correct, and it was reassuring to see the results of these efforts in the 2013 second quarter.”
Key Stats (on next page)…