Q: Could I have your take on earnings. The CEO says good things to come... would you consider this a buy today?
5i Research Answer:
EPS of $1.27 beat estimates of $1.25; revenue of $1.63B slightly missed estimates of $1.64B. EBITDA of $152.4M was 2% ahead of forecasts. Revenue rose 7.3%, but earnings did drop from last year. Guidance was maintained. Speciality Foods did very well with 17% growth but Premium Food Distribution lagged. Organic growth was a solid 8% at the speciality division. The stock slipped a bit after very good gains this year, but we are comfortable with the results, view it as buyable, and the outlook is good.