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Resolute Forest Products (NYSE:RFP) 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 down 0%.
Resolute Forest Products Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 400% to $0.35 in the quarter versus EPS of $0.46 in the year-earlier quarter.
Revenue: Decreased 1.66% to $1.13 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: reported adjusted EPS income of $0.35 per share. By that measure, the company beat the mean analyst estimate of $0.21. It missed the average revenue estimate of $1.16 billion.
Quoting Management: “We significantly improved the Company’s competitiveness by optimizing our asset base, reducing costs wherever possible and strengthening our financial position this year,” said Richard Garneau, president and chief executive officer. “We added pulp assets, committed to growth projects in lumber, invested in power cogeneration plants and further optimized our paper assets, steps that will position us well for the future. At the same time, we returned $67 million to our shareholders in share buybacks, reduced balance sheet working capital by a further $81 million from the end of 2011 and redeemed an additional $85 million of debt.”
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