MWI Veterinary Supply Inc. (MWIV) topped the Zacks consensus estimate and exceeded the company’s own expectations.

Company Description

MWI distributes veterinary products included pharmaceuticals, diagnostics, capital equipment, and pet food across the U.S. The company services both companion and production animals.

Exceeding Expectations

On Jul 30 MWI reported its fiscal third-quarter results that “…exceeded our expectations regarding revenue growth, market share gains, operating expense control, earnings growth, cash flow and value-added services,” said Jim Cleary, President and CEO.

Revenue was up 19% to $248 million on a year-over-year basis. Net income spiked 22% to $6.6 million. MWI reported earnings per share of 54 cents, beating the Zacks consensus estimate by a dime. This was the third consecutive surprise.

Analyts React

Both analysts polled by Zacks raised current year estimates just before and after the announcement. The consensus rose 11 cents to $1.94 in the past week.

If expectations are met, the earnings growth rate would be almost 20%, with another 9% next year.

The Chart

Shares of MWIV are surging after the excellent quarterly report. The stock had momentum heading into the announcement and could soon be challenging its 52-week high. Take a look below.

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