MWI Veterinary Supply Inc. (MWIV)) topped the Zacks consensus estimate and exceeded the company’s own expectations.
Company Description
MWI distributes veterinary products included pharmaceuticals, diagnostics, capital equipment, and pet food across the U.S. The company services both companion and production animals.
Exceeding Expectations
On Jul 30 MWI reported its fiscal third-quarter results that “…exceeded our expectations regarding revenue growth, market share gains, operating expense control, earnings growth, cash flow and value-added services,” said Jim Cleary, President and CEO.
Revenue was up 19% to $248 million on a year-over-year basis. Net income spiked 22% to $6.6 million. MWI reported earnings per share of 54 cents, beating the Zacks consensus estimate by a dime. This was the third consecutive surprise.
Analyts React
Both analysts polled by Zacks raised current year estimates just before and after the announcement. The consensus rose 11 cents to $1.94 in the past 2 months.
Next year’s estimates are now averaging $2.14, up a dime in the same period. If expectations are met, the earnings growth rate would be more than 19%, with another 11% next year.
The Chart
Shares of MWIV continues to pressure the 52-week high following the news, but may need a shot in the arm to get past that level. The next earnings report is scheduled for early November.
