Q: Your thoughts please on the quarter?
Thx
Thx
5i Research Answer:
EPS of $1.67 crushed estimates of $1.16; revenue of $773M missed estimates of $806M. EBITDA of $179M beat estimates by 27.5%. Guidance was maintained. Results were skewed positively by an insurance settlement. Railway tie sales fell 14% and were the main contributor to the sales miss. Total sales fell 0.3%. Net income rose 21%. We would consider the results decent, but not as solid as they appear because of the insurance settlement. The stock is flat on the year and now trades at 12.5X earnings.