Raven Industries Q3 Earnings Slide, Results Miss Estimates - Quick Facts

(RTTNews) - Raven Industries, Inc. (RAVN), weighed down by slumping agricultural equipment sales, Thursday reported a drop in earnings as well as sales for the third quarter. The company also said it did not expect profit growth in the fourth quarter.

Both earnings and sales fell short of analysts' expectations.

For the three months to October, net earnings totaled $6.78 million, or $0.18 per share, from $12.29 million, or $0.34 per share, a year earlier.

On average, two analysts polled by Thomson-Reuters estimated earnings to be $0.23. Analysts' estimates typically exclude one-time items.

Net sales declined to $91.29 million, from $104.94 million last year, below the $98 million Wall Street expected.