ITT Educational Services Misses Q1 Earnings, Beats Revenue
ITT Educational Services Inc.ESI is a provider of technology-oriented postsecondary degree programs.
ITT Educational Services is witnessing weak enrollment and sales trends. In fact, it could be a while before the company regains stability in its top and bottom lines. Nonetheless, ITT Educational Services is undergoing several changes to improve its enrollment scenario and efficiency.
Investors should however note that ESI's recent earnings estimate revisions has mostly been upwards. Though ESI posted two negative surprises in the last four quarters, the average surprise stands at 13.15%
Currently, ESI has a Zacks Rank #3 (Hold), but that could change following ITT Educational Services's earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: ESI missed on earnings. Our consensus earnings estimate called for EPS of $0.19 per share, and the company reported EPS of $0.17 instead. Investors should note that these figures take out stock option expenses.
Revenues: ESI reported revenues of $191.5 million. This beat our consensus estimate of $190 million.
Key Stats to Note: Total enrollment was down 15.4% in the quarter.
Stock Price: Inactive in pre-market trading .
Check back later for our full write up on this ESI earnings report later.