Providence Service (PRSC) Misses Q3 EPS by 10c

Providence Service (NASDAQ: PRSC) reported Q3 EPS of $0.35, $0.10 worse than the analyst estimate of $0.45. Revenue for the quarter came in at $412.5 million versus the consensus estimate of $417 million.

On October 26, 2016, the Providence Board of Directors approved a new stock repurchase program under which the Company may purchase up to $100 million of its outstanding common stock during the twelve-month period following the approval date. Acquisitions under the stock repurchase program may be made from time to time through a combination of open market repurchases (including through Rule 10b5-1 plans), privately negotiated transactions, accelerated share repurchase transactions and/or other derivative transactions, at the Company's discretion, as permitted by securities laws, covenants under existing bank agreements and other legal requirements, subject to market conditions and other factors. The repurchase plan may be suspended or discontinued at any time. As the previous share repurchase program approved by the Providence Board of Directors on November 4, 2015 has now expired, this new $100 million share repurchase program is currently the Company’s only outstanding repurchase program.

For earnings history and earnings-related data on Providence Service (PRSC) click here.

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