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Neff misses 4Q profit forecasts

MIAMI (AP) _ Neff Corp. (NEFF) on Thursday reported fourth-quarter earnings of $5.4 million.

On a per-share basis, the Miami-based company said it had net income of 59 cents. Earnings, adjusted for non-recurring gains, came to 32 cents per share.

The results did not meet Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 35 cents per share.

The equipment rental company posted revenue of $102.3 million in the period.

For the year, the company reported profit of $10.7 million, or $1.11 per share. Revenue was reported as $397 million.

Neff expects full-year revenue in the range of $400 million to $420 million.

Neff shares have climbed 16 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $16.35, more than tripling in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on NEFF at https://www.zacks.com/ap/NEFF


Keywords: Neff, Earnings Report