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 Inergy
So what: Revenue jumped 48% to $448.6 million, easily passing the $391.5 million analysts had expected. But the company lost $50.2 million, or $0.42 per share, and analysts had expected only a $0.22 loss in the quarter.
Now what: In the next fiscal year, management is expecting between $101 million and $119 million in earnings, so operations should turn around. The fiscal fourth quarter usually results in a loss, but such a big earnings miss is always concerning for a company. I wouldn't use this discount as a buying opportunity and will wait for better earnings results to jump into shares.
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