Eaton Vance Earnings: What Investors Need to Know
Eaton Vance Corp. (NYSE:EV) delivered a profit and missed Wall Street’s expectations, AND 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 down 0%.
Eaton Vance Corp. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 20.93% to $0.52 in the quarter versus EPS of $0.43 in the year-earlier quarter.
Revenue: Rose 17.25% to $350.3 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Eaton Vance Corp. reported adjusted EPS income of $0.52 per share. By that measure, the company missed the mean analyst estimate of $0.54. It missed the average revenue estimate of $353.97 million.
Quoting Management: “The $8.8 billion in net inflows in the third quarter of fiscal 2013 rank as the second highest quarterly total in Eaton Vance history” said Thomas E. Faust Jr., Chairman and Chief Executive Officer. “Our leading positions in floating-rate bank loans and implementation services propelled the Company to an outstanding growth quarter.”
Key Stats (on next page)…