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Powersecure International (POWR) Beats The Street
We’ve seen very good results from the smart grid players Echelon (ELON) and EnerNOC (ENOC) and Powersecure (POWR) posted a Wall St beating quarter as well. I won’t say it was a great quarter because revenues (down 17%) and earnings (down 47%) declined over the year ago quarter, but a beat is a beat and the company did acknowledge that in the year ago quarter they completed a large number of projects for Publix Supermarkets . Given the run this stock has had in the past two months, I can’t imagine the results are good enough to keep the stock moving to new highs, but we’ll see.
The company posted an EPS of .09/share, .03 better than estimates on revenues of $27.7 million which was nearly $2 million ahead of estimates.
CEO Sidney Hinton commented on the future:
“We are excited about the strategic positions each of our businesses holds in the marketplace as well as the strong value they deliver our utility partners and business customers, and their long-term growth opportunities and promise. That said, we are not sitting still, and we are actively developing new, complementary business lines and technologies to bring to market -examples of which are our new Efficient Lights Street Light and our new SmartStation substation – to sustain our growth well into the future.”
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