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Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of Gentiva Health Services (NASDAQ: GTIV ) lost over 10% of their value today after the company released an underwhelming earnings report this morning.
So what: Gentiva's third quarter revenue came in at $410.5 million, a 3% year-over-year decline and below the $415.1 million consensus. Wall Street was looking for earnings of $0.22 per share from Gentiva, which swung and missed with an EPS result of just $0.15. Looking forward, Gentiva now expects full-year revenue in the $1.72 billion to $1.74 billion range, which is better than the $1.68 billion consensus. However, its full-year EPS guidance range of $0.90 to $1.00 only hits Wall Street's $0.94 EPS expectation in the middle.
Now what: Gentiva's full-year revenue projection is barely a hair above the $1.68 billion trailing 12-month revenue that it had reported prior to this latest quarter, and the company continues to struggle with profitability on a GAAP basis. This report isn't particularly impressive, and the stock has been stuck in a rut for the past year after a big run-up in 2012. There might be a silver lining here, but you're going to have to dig pretty deep to find it.
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