Raven (RAVN) Beats Q3 Earnings Estimates On Higher Revenues
Zacks Investment Research | Nov 20, 2017 08:40PM ET
Industrial goods manufacturer Raven Industries, Inc. (NASDAQ:RAVN) reported solid third-quarter fiscal 2018 results, with net income of $12 million or 33 cents per share compared with $5.7 million or 16 cents per share in the year-ago quarter. The two-fold increase in earnings was primarily driven by solid top-line growth. The reported earnings beat the Zacks Consensus Estimate by 12 cents.
Operational Update
Quarterly revenues increased 39.7% year over year to $101.3 million, with improvement in each of the three segments and exceeded the Zacks Consensus Estimate of $85 million. Gross profit increased 68% year over year to $33.3 million, while gross margin improved to 32.9% from 27.4%.
Operating income more than doubled to $17.8 million from $7.4 million in the year-earlier quarter for respective margins of 17.6% and 10.2%, driven by strong operating leverage on higher sales volume.
Raven Industries, Inc. Price, Consensus and EPS Surprise
Original post
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.