Outerwall Misses Expectations: Outlook Also Disappoints

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OuterwallOUTR
is down by 2.76 percent in the after hour session. The decline in the after hour session came as a result of missing on both top line and bottom line estimates. The company reported Q2 EPS of $1.08 versus the estimated $1.40, missing by $0.32. EPS were Down 43 percent from the same quarter last year. Revenue came in at $549.20M versus the estimated $559.35M. Sales were down one percent year over year. Outerwall states in its Q2 press release: “Core adjusted EBITDA from continuing operations for the second quarter of 2014 was $110.3 million, compared with $129.9 million in the second quarter of 2013. The year-over-year decline was primarily due to lower segment operating income at Redbox and higher segment operating losses in New Ventures as the company continued to invest as it scales its ecoATM business. The declines were partially offset by increased Coinstar segment operating income.” Outerwall offered revenue guidance of $535 million to $565 million for Q3 2014, and an EPS guidance range of $0.99 to $1.29 for Q3 2014. Analysts on a consensus basis expected $1.91 EPS, and revenue of $613.52 million for Q3 2014.
Posted In: EarningsNewsGuidanceAfter-Hours Center
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