Administaff 3Q profit outlook tops Street forecast
HOUSTON - Administaff Inc. on Friday forecast third-quarter profit slightly above Wall Street expectations, as the staffing firm raised its outlook for how much profit it generates for each employee it places at work sites, even amid a difficult economic environment.
Administaff expects earnings of 46 cents per share for the quarter ended Sept. 30, above the average estimate of 44 cents per share forecast by analysts surveyed by Thomson Reuters. Administaff projects revenue of $422 million, up 10 percent from a year ago, but shy of analysts’ consensus forecast of $427 million.
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