Just Energy (JE) Q2 Loss Wider Than Expected, Sales Miss
Zacks Investment Research | Nov 10, 2016 08:12PM ET
Just Energy Group Inc. (TO:JE) reported adjusted loss of 84 cents per share in the second quarter of fiscal 2017, wider than both the Zacks Consensus Estimate of a loss of 17 cents and the prior-year quarter loss of 47 cents.
Total Revenue
Just Energy reported net sales of $738.9 million (C$992.8 million) in the fiscal second quarter, missing the Zacks Consensus Estimate of $870 million by 15.1%. Quarterly revenues were also down 8.7% from (C$1,087.3 million) on a year-over-year basis.
Highlights of the Release
Administrative expenses increased 15.9% from $29.9 million (C$40.3 million) to $34.8 million (C$46.7 million).
Gross margin improved 9.8% to $136.6 million (C$183.5 million) primarily on the back of continued margin improvement efforts and strong contribution from the U.S. markets.
Base EBITDA grew 24.5% to $42.3 million (C$56.9 million) from the year-ago tally of $34 million (C$45.7 million).
JUST ENERGY GRP Price, Consensus and EPS Surprise
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