PH Glatfelter Co. Earnings: Here’s Why Investors are Buying Shares Now
PH Glatfelter Co. (NYSE:GLT) 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 1.49%.
PH Glatfelter Co. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 6.98% to $0.40 in the quarter versus EPS of $0.43 in the year-earlier quarter.
Revenue: Rose 1.5% to $405.2 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: PH Glatfelter Co. reported adjusted EPS income of $0.40 per share. By that measure, the company beat the mean analyst estimate of $0.35. It missed the average revenue estimate of $412.45 million.
Quoting Management: “We had a solid start to 2013 with our Composite Fibers business improving dramatically from the weakness experienced during the fourth quarter, and our Advanced Airlaid Materials business generating a 7 percent increase in revenue compared to the year ago quarter,” said Dante C. Parrini, chairman and chief executive officer. “This led to improved operating profit for these businesses totaling 9 percent in the year over year comparison and allowed us to generate results that were generally in-line with our expectations. As expected, operating profit from Specialty Papers declined due to lower selling prices and operating cost inflation. In addition, our results benefited from a favorable tax rate.”
Key Stats (on next page)…