Campus Crest Communities (CCG) Misses Q1 EPS by 1c

Before the open, Campus Crest Communities (NYSE: CCG) reported Q1 EPS of $0.14, $0.01 worse than the analyst estimate of $0.15. Revenue for the quarter came in at $40.33 million versus the consensus estimate of $48.92 million. FFO was $0.10 per share.

"We have successfully concluded the financial consolidation of the Copper Beech acquisition and look forward to returning to a more normalized reporting cycle," stated David Coles, Interim Chief Executive Officer. "We remain focused on our previously stated goals of reducing financial statement complexity and improving operational focus. We thank our stakeholders for their patience and continued support as we execute on our goal of maximizing shareholder value."

"Our property results remain solid with pre-leasing for the Company's total portfolio for the 2015/2016 academic year up by approximately 280 basis points accompanied by a currently anticipated 75 basis point improvement in overall rate," noted Aaron Halfacre, President and Chief Investment Officer. "We look forward to providing investors with a corporate update on our scheduled conference call."

For earnings history and earnings-related data on Campus Crest Communities (CCG) click here.

You May Also Be Interested In

• Key things to know ahead of SK Hynix’s blockbuster US listing
• Hongli Group receives Nasdaq minimum bid price deficiency notice
• EquipmentShare raises 2026 outlook, approves $500M buyback