Jefferies Reports Disappointing Earnings For Texas Industries

According to Jefferies, Texas Industries TXI saw disappointing Q4 earnings. Jefferies said that Q4-2011 (March 2011-May 2011) underlying loss of $0.57 per share was $0.31 worse than its estimate and $0.30 worse than the Thompson Reuters consensus estimate. “The miss relative to our forecast was mainly caused by volumes 1-6% below our forecasts and higher than expected costs.” Texas Industries closed yesterday at $40.46.