Ryland Homes Misses EPS, Beats Revenues
Ryland Group Inc. (NYSE: RYL) reported second-quarter EPS of $0.14 and $293.8 million in revenue after markets closed today. EPS was up from an EPS loss of -$0.24 in the same period a year ago, while revenue was up from…
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The homebuilder did not offer guidance in its press release. The consensus estimate for yearly revenue is $1.2 billion and the EPS estimate is $0.64. Third quarter EPS is estimated at $0.26 on revenue of $333.65 million.
In its press release the company noted gross margins rose by nearly 2% year-over-year and that new orders rose 41.6%. Backlog rose 47% compared with the second quarter of 2011, to 1,549 units, and the dollar value of the backlog jumped 55.2% year-over-year.
Refreshingly, the company’s SG&A expenses fell by -1.5% primarily due to “higher leverage resulting from increased revenues, as well as to cost-saving measures.” For the past few years, it was cost-cutting alone that saved homebuilders’ bacon.
Shares are up about 1.6% in after-hours trading, at $25.21 in a 52-week range of $9.15-$27.15. Thomson Reuters had a consensus analyst price target of $25.23 before today’s results were announced.
Paul Ausick
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Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.
He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.
