Rock-Tenn Co. Earnings: Everything You Must Know Now
Rock-Tenn Co. (NYSE:RKT) 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.
Rock-Tenn Co. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 127.37% to $2.16 in the quarter versus EPS of $0.95 in the year-earlier quarter.
Revenue: Rose 6.3% to $2.45 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Rock-Tenn Co. reported adjusted EPS income of $2.16 per share. By that measure, the company beat the mean analyst estimate of $1.66. It missed the average revenue estimate of $2.45 billion.
Quoting Management: RockTenn Chairman and Chief Executive Officer James A. Rubright stated, “Our quarterly adjusted earnings of $2.16 per share, up 93% over the preceding quarter and 127% over the prior year quarter, reflect the continued substantial improvements we are making in operating our businesses, executing capital projects and executing our sales and pricing strategy. As these broadly based initiatives continue to strengthen and as we further implement the current pricing initiatives in corrugated packaging and consumer paperboard grades, our earnings for the fourth quarter and the next fiscal year should also be sharply higher than our earnings for the comparable prior year periods.”
Key Stats (on next page)…