If I get this right from the Q2 report:
We have an EPS of 0.31 and revs of $528M. Wonder how the street will react to this...good beat on earnings, but would like to see a beat on revenues too. Thoughts?
We were just pointing out that the seasons south of the equator are opposite those of the United States, i.e. Their Fall is our Spring.
As you get nearer the equator in tropical areas the temperature varies less during the year, and seasons are more typified by precipitation: wet/dry.
In other words, don't assume that the factors that drive spring home sales in the United States: the end of snowy weather, end of the school year, are the same in Brazil.
I guess it means they acknowledged the sale was slow for the first half, but they think the second half will finish 62% of the whole year goal.
If I interpret it right, then it doesn't make sense. Usually people will buy house mostly on spring.
From the 2Q10 ER....Earnings per share already adjusted for the 2:1 stock split in all comparable periods were R$
0.23/share in the 2Q10 compared to R$ 0.22/share in 2Q09, a 2.2% increase. Shares outstanding at
the end of the period were 428.7 million (ex. Treasury shares) and 260.7 million in the 2Q09
1 Real=about $0.57, so the earnings were about $0.13/share. Looks like a miss, but one shouldnt buy the stock for Q2 earnings, but should look forward and see the potential of GFA. Improving margins, strong Brazilian economy that is energy independent. I will add to my position on a pullback.
I wish you were right but I am not sure how you are getting .31/share. My calculations give me .26/share.
Seeing that the ASK is at $15, which is very low considering the markets are closed, I think its a miss. But then again they always miss the one analyst's estimate and the price continues to grow.
Please tell me I'm wrong though. 31 cents would make me happier.