Journal Communications Earnings: Here’s Why Shares are Up Now
Journal Communications Inc. (NYSE:JRN) delivered a profit and beat Wall Street’s expectations, BUT 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 1.32%.
Journal Communications Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 0% to $0.13 in the quarter versus EPS of $0.13 in the year-earlier quarter.
Revenue: Rose 5.96% to $101.2 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Journal Communications Inc. reported adjusted EPS income of $0.13 per share. By that measure, the company beat the mean analyst estimate of $0.12. It missed the average revenue estimate of $103.6 million.
Quoting Management: “Journal Communications had a solid second quarter, driven by revenue gains in our broadcast group, as well as improving advertising revenue trends in publishing. Total revenue of $101.2 million was up 6% year over year,” said Steven J. Smith, Chairman and CEO of Journal Communications. “Operating earnings decreased 2.6% as lower political revenue offset operating earnings increases in broadcast, driven by NewsChannel 5 in Nashville, as well as higher earnings at our daily newspaper.”
“Within the Broadcast group, we continue to see core revenue growth. On a same-station basis and excluding political advertising, revenue was up 6%, with television up 7% and radio up 5%.”
Key Stats (on next page)…