Orbital Sciences Earnings: Here’s Why Investors are Buying Shares Now
Orbital Sciences Corp. (NYSE:ORB) 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 3.78%.
Orbital Sciences Corp. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 8% to $0.27 in the quarter versus EPS of $0.25 in the year-earlier quarter.
Revenue: Decreased 10.28% to $333.1 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Orbital Sciences Corp. reported adjusted EPS income of $0.27 per share. By that measure, the company beat the mean analyst estimate of $0.23. It missed the average revenue estimate of $358.34 million.
Quoting Management: David W. Thompson, Orbital`s Chairman and Chief Executive Officer, said, “Although revenues were down, Orbital reported another quarter of solid bottom-line financial results with higher operating margins, net income and earnings per share compared to the second quarter of last year. These results reflect profit margin increases in our launch vehicles and satellites and space systems segments as well as lower interest expense resulting from our debt refinancing transaction late last year. In addition, the company reported strong quarterly new orders and option exercises totaling $875 million, which boosted total contract backlog to $5.4 billion.”
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