ITT Educational Services Earnings: Double-Digit Revenue Decline Hits Shares
ITT Educational Services Inc. (NYSE:ESI) had a loss 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 2.95%.
ITT Educational Services Inc. Earnings Cheat Sheet
Results: Net loss of $9.5 million (loss of 41 cents per diluted share) in the quarter versus a net loss of $76.05 million in the year-earlier quarter.
Revenue: Decreased 18.32% to $300.8 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: ITT Educational Services Inc. reported adjusted net loss of 41 cents per share. By that measure, the company missed the mean analyst estimate of $1.81. It missed the average revenue estimate of $313.64 million.