Gardner Denver Earnings: Here’s Why Shares are Up Now
Gardner Denver Inc. (NYSE:GDI) delivered a profit and met 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 up 0.07%.
Gardner Denver Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 24.29% to $1.06 in the quarter versus EPS of $1.40 in the year-earlier quarter.
Revenue: Decreased 15.03% to $513.54 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Gardner Denver Inc. reported adjusted EPS income of $1.06 per share. By that measure, the company met the mean analyst estimate of $1.06. It missed the average revenue estimate of $535.09 million.
Quoting Management: “We were pleased with our first quarter results in a challenging environment,” said Michael M. Larsen, Gardner Denver’s President and Chief Executive Officer. “I am encouraged by our sequential order growth in the first quarter as orders grew 7% over the fourth quarter of 2012 and resulted in a book-to-bill ratio of 1.07.”
Key Stats (on next page)…