Mac-Gray Earnings: Here’s Why the Stock is Rising Now
Mac-Gray Corp. (NYSE:TUC) delivered a profit 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 up 5.01%.
Mac-Gray Corp. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 41.67% to $0.17 in the quarter versus EPS of $0.12 in the year-earlier quarter.
Revenue: Decreased 0.54% to $82.2 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Mac-Gray Corp. reported adjusted EPS income of $0.17 per share. By that measure, the company missed the mean analyst estimate of $0.18. It missed the average revenue estimate of $82.3 million.
Quoting Management: “Mac-Gray concluded 2012 with a solid fourth-quarter performance,” said Stewart G. MacDonald, Mac-Gray’s chief executive officer. “We improved our operating margins, achieved a higher level of adjusted EBITDA and more than doubled our adjusted earnings. In addition, for the third consecutive quarter, we increased our profitability despite flat total revenue. ”
Key Stats (on next page)…