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Express, Inc. (EXPR) Stock Surges on Earnings Beat

EXPR beat EPS estimates by two cents

   

Express, Inc. (NYSE:EXPR) stock was on the rise Wednesday following the release of its earnings report for the second quarter of 2017.

EXPR stock got a major boost today from its earnings per share of one penny for the second quarter of 2017. This is down from its earnings per share of 15 cents from the same time last year. However, it beat out Wall Street’s losses per share estimate of one penny for the quarter.

Revenue reported by Express, Inc. in the second quarter of 2017 was $478.54 million. The apparel and accessories retailer reported revenue of $504.77 million during the second quarter of 2016. This was also good news for EXPR stock as it came in above analysts’ revenue estimate of $474.10 million for the second quarter of the year.

Express, Inc. reported an operating loss of $15.88 million in its second quarter of 2017. This is a drop from its operating income of $17.89 million in the same period of the year prior.

A net loss of $11.80 million was reported by Express, Inc. in its second quarter of the year. The retailer reported net income of $10.14 million in its second quarter of the previous year.

Express, Inc. also released its guidance for the third quarter of 2017 in its most recent earnings report. The company is expecting earnings per share for the quarter to range from 6 cents to 10 cents. Wall Street is looking for earnings per share of 11 cents in the third quarter of the year.

Express, Inc. also reaffirmed its outlook for the full year of 2017 in its earnings report. It is expecting earnings per share for the year to come in between 41 cents and 48 cents. Analysts are estimating earnings per share of 42 cents for full year.

EXPR stock was up 23% as of Wednesday morning, but is down 38% year-to-date.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2017/08/express-inc-expr-stock/.

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