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Edgen Group Inc. (NYSE:EDG) delivered a profit and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
Edgen Group Inc. Earnings Cheat Sheet
Revenue: Rose 101.85% to $522.1 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Edgen Group Inc. reported adjusted EPS income of $0.22 per share. By that measure, the company missed the mean analyst estimate of $0.28. It beat the average revenue estimate of $519.6 million.
Quoting Management: “With record net sales in 2012, we are very pleased with our year over year growth given the uncertain global economic conditions throughout 2012,” stated Dan O’Leary, the Company’s Chairman and Chief Executive Officer. “Despite the challenging environment, the Company was able to achieve record revenue levels while we focused on completing an IPO, refinancing our debt at more favorable terms and completing two acquisitions to expand our product offering, all of which continue to position the Company for future success.”
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