Shaw Communications (NYSE:SJR) earnings for the company’s fiscal first quarter of 2019 have SJR stock on the move Monday. This comes after reporting diluted earnings per share of 24 cents. That’s below Wall Street’s estimate of 28 cents for the period. Revenue of $1.06 billion is better than analysts’ estimate of $1.05 billion.Here are some additional highlights from the current Shaw Communications earnings report.
- Diluted per-share earnings for the quarter are down 14.29% from 28 cents in the fiscal first quarter of 2019.
- Revenue comes in 1.94% above the $1.03 billion reported during the same period of the year prior.
- The Shaw Communications earnings report also includes a net income of $124.17 million.
- That’s a 12.91% drop from the Canadian telecommunications company’s net income of $142.57 million during the same time last year.
Brad Shaw, the Chief Executive Officer of Shaw Communications, has this to say about the SJR stock earnings report.
“Our focus on the execution of our strategy, including the stabilization of our Wireline business and capitalizing on growth opportunities within our Wireless and Shaw Business segments, has resulted in a solid start in the first quarter and we remain on track to meet our fiscal 2020 commitments.”
The Shaw Communications earnings report notes that the company continues to expect adjusted EBITDA of 11% to 12% in fiscal 2020. It’s also still looking for capital expenditures of roughly $1.10 billion and free cash flow of about $700 million.
SJR stock was up slightly as of Monday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.