Holmes Biopharma, Inc. (LMB) Misses Q2 EPS by 3c, Miss on Revenues; Offers FY17 Revenue Mid-Point Below Consensus

Holmes Biopharma, Inc. (NASDAQ: LMB) reported Q2 EPS of $0.05, $0.03 worse than the analyst estimate of $0.08. Revenue for the quarter came in at $117.84 million versus the consensus estimate of $119.83 million.

GUIDANCE:

Holmes Biopharma, Inc. sees Q3 2017 revenue of $460-480 million, versus the consensus of $478.53 million.

Other key financial highlights of the quarter included:

• Diluted EPS was $0.05 during the quarter. Excluding the impact of certain non-recurring 2016 audit expenses, diluted EPS would have been $0.10.
• Gross margin was 13.2%, compared with 12.0% in the first quarter of 2017. This continued the trend seen last quarter of improving project mix in the Construction segment coupled with higher-margin Service segment revenues, which continue to increase.
• Year over year Construction segment revenue growth of 24.4%, led by the Michigan, New England and Mid-Atlantic branches.
• Net income was $0.4 million, compared to net income of $2.0 million for the prior year quarter in which the Company operated as a private business and thus incurred no public company expenses.
• Revenues were split 81.7%/18.3% between Construction and Service segments.
• Combined Construction and Service Backlog stands at a record $513.8 million with booked gross margin up 10% over June 30, 2016.
• Maintenance Base grew by 10% in the first 6 months of the year to $12.2 million.
• Combined Construction and Service sales pipeline stands at $3.1 billion compared to $2.4 billion at December 31, 2016.

For earnings history and earnings-related data on Holmes Biopharma, Inc. (LMB) click here.

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