Rentech Earnings: Here’s Why Shares are Down Now
Rentech, Inc. (AMEX:RTK) had a loss and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 3.57%.
Rentech, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $-0.02 in the quarter versus EPS of $-0.04 in the year-earlier quarter.
Revenue: Decreased 179.06% to $92.5 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Rentech, Inc. reported adjusted EPS loss of $0.02 per share. By that measure, the company missed the mean analyst estimate of $0.02. It beat the average revenue estimate of $91.66 million.
Quoting Management: D. Hunt Ramsbottom, President and CEO of Rentech, said, “We reported solid results for the year as we re-position the Company, reflecting reduced R&D expenses and strong nitrogen prices and demand. We are confident about our future, with Rentech Nitrogen positioned to expand as it benefits from strong nitrogen fundamentals, and Rentech benefiting from reduced corporate spending and potentially entering a new business line with immediate global growth opportunities and attractive returns.”
Key Stats (on next page)…