Finish Line Inc (FINL) Stock Falls on Earnings Miss, Outlook

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Finish Line Inc (NASDAQ:FINL) is falling hard on Wednesday following the release of its earnings report for the fiscal third quarter of 2017.

Finish Line, FINLFinish Line Inc reported losses per share of 24 cents for its fiscal third quarter of 2017. This is an improvement over its losses per share of 44 cents from the same time last year. However, it didn’t meet the losses per share estimate of 18 cents that Wall Street was looking for in the quarter.

Revenue reported by Finish Line Inc in its fiscal third quarter of 2017 was $371.74 million. The retail company reported revenue of $361.03 million in its fiscal third quarter of 2016. Analysts were expecting FINL to report revenue of $411.31 million for its fiscal third quarter of the year.

Operating loss reported by Finish Line Inc in its fiscal third quarter of 2017 was $16.64 million. FINL’s operating loss from the same time in the year prior was $32.68 million. Its net loss for the quarter was $9.91 million. The net loss from the fiscal third quarter of 2016 was $19.36 million.

Finish Line Inc also updated its outlook for its fiscal fourth quarter of 2017 in its most recent earnings report. The company is expecting earnings per share to range from 68 cents and 73 cents. Wall Street is expecting earnings per share of 95 cents from FINL during this quarter.

For the full year of fiscal 2017, Finish Line Inc is looking at earnings per share ranging from $1.24 and $1.30. Analysts’ estimates for the same period have earnings per share set at $1.53.

FINL stock was down 11% as of Wednesday morning, but is up 12% year-to-date.

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Article printed from InvestorPlace Media, https://investorplace.com/2016/12/finish-line-finl-2/.

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