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Childrens Place Inc (PLCE) Shares Jump on Huge Earnings Beat

PLCE beat EPS estimates by 31 cents

   

Childrens Place Inc (NASDAQ:PLCE) stock was up on Thursday following the release of its earnings report for its fiscal first quarter of 2017.

Childrens Place Inc (PLCE) Shares Jump on Huge Earnings Beat
Source: Flickr

Revenue reported by Childrens Place Inc in its fiscal first quarter of 2017 was $436.68 million. This is an increase over its revenue of $419.35 million that was reported during the same time last year. It also came in above Wall Street’s revenue estimate of $422.47 million for the quarter.

Childrens Place Inc reported earnings per share of $1.95 cents for its fiscal first quarter of 2017. This is up from its earnings per share of $1.32 cents that was reported in its fiscal first quarter of 2017. It also beat analysts’ earnings per share estimate of $1.64 for its fiscal first quarter of the year.

During its fiscal first quarter of 2017, Childrens Place Inc reported operating income of $42.28 million. This is higher than its operating income of $39.61 million that was reported in the same period of the year prior.

Net income reported by Childrens Place Inc for its fiscal first quarter of the year was $36.23 million. The children’s apparel retailer reported a net income of $25.99 million in its fiscal first quarter of the previous year.

Childrens Place Inc also updated its outlook for fiscal 2017 in its most recent earnings report. The retailer is expecting earnings per share for the year to range from $7.10 to $7.20. This is an increase over its previous outlook, which had earnings per share for fiscal 2017 coming in between $6.50 and $6.65. Wall Street is expecting earnings per share of $6.66 for the year.

Childrens Place Inc says that it is expecting earnings per share for its fiscal second quarter of 2017 to range from 70 cents to 75 cents. Analysts are estimating that the company will report earnings per share of 21 cents in its fiscal second quarter of the year.

PLCE stock was up 2% as of Thursday morning and is up 14% year-to-date.


Article printed from InvestorPlace Media, http://investorplace.com/2017/05/childrens-place-inc-plce/.

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