Robbins & Myers Up Strong After Earnings (RBN)

Shares of Robbins & Myers, Inc. RBN are among the best performing stocks today, after the company reported better than expected earnings. The company said it earned 44 cents per share on revenues of $163.9 million. Wall Street had been expecting earnings of 33 cents per share on revenues of $148.5 million. "We are benefiting from growth in unconventional drilling, which includes both horizontal and directional rigs, as exploration and production companies invest to capture oil and gas from the shale formations," said President and CEO Peter C. Wallace, in a statement. "This particular portion of the energy markets has been extremely strong, and we have products well-suited for this type of drilling." The company also raised its earnings outlook for the full year, going to $1.85 to $2.05 per share, up from between $1.45 and $1.65 per share. Wall Street expects $1.63 in earnings for the full year. Robins & Myers said second quarter earnings will come in between 40-50 cents. Wall Street is expecting 35 cents per share.