Leucadia National Earnings: Two Straight Quarters of Profit Broken by a Loss

On top of dropping to a loss in the second quarter, S&P 500 (NYSE:SPY) component Leucadia National Corporation (NYSE:LUK) also came in short of analyst estimates. Leucadia National is a holding company involved in the businesses of telecommunications, property management, manufacturing, gaming entertainment, medical product development, real estate activities, and winery operations.

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Leucadia National Corporation Earnings Cheat Sheet

Results: Reported a loss of $197.3 million (81 cents per diluted share) in the quarter. Leucadia National Corporation had a net income of $186.3 million or 75 cents per share in the year-earlier quarter.

Revenue: Rose more than twofold to $2.14 billion from the year-earlier quarter.

Actual vs. Wall St. Expectations: Leucadia National Corporation fell short of the mean analyst estimate of 55 cents per share. It beat the average revenue estimate of $634.2 million.

Key Stats:

The company fell short of forecasts after beating estimates in the previous two quarters. In the first quarter, it topped the mark by $1.57, and in the fourth quarter of the last fiscal year, it was ahead by 70 cents.

The company’s loss in the latest quarter follows profits in the previous two quarters. The company reported a profit of $490.9 million in the first quarter and a profit of $119.4 million in the fourth quarter of the last fiscal year.

Looking Forward: For next quarter, analysts have a more positive outlook about the company’s expected results. The average estimate for the third quarter is 41 cents per share, up from 40 cents ninety days ago. Over the past three months, the average estimate for the fiscal year has climbed from $1.58 per to share to $3.35.

Competitors to Watch: Telephone & Data Systems, Inc., IDT Corporation, 3M Company, Sprint Nextel Corporation, Raven Industries, Inc., Handy and Harman Ltd, Otter Tail Corporation, Carlisle Companies, Inc., General Electric Company, and Verizon Communications Inc.

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(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)

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