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Abercrombie & Fitch Co. Stock Surges on Q4 Earnings Beat

Abercrombie & Fitch Co. (NYSE:ANF) stock was on the way up today following an earnings beat for its fourth quarter of 2017.

Abercrombie & Fitch Co. (ANF) Stock Surges on Q4 Earnings Beat

Abercrombie & Fitch Co. starts off its earnings report for the fourth quarter of the year strong with earnings per share of $1.38. This is an increase over its earnings per share of 75 cents from the same time last year. It also came in well above Wall Street’s earnings per share estimate of $1.10 for the period.

Net income reported by Abercrombie & Fitch Co. for the fourth quarter of 2017 was $75.53 million. The fashion retailer reported net income of $50.12 million for the same period of the year prior. ANF notes that it suffered a charge of $19.90 million during the quarter from the recent change to U.S. tax laws.

Abercrombie & Fitch Co.’s operating income for the fourth quarter of the year was $140.34 million. It’s operating income from the fourth quarter of 2016 came in at $61.26 million.

Revenue of $1.19 billion for the fourth quarter of the year was a boon to ANF stock. This is up from its revenue of $1.04 billion that was reported in the same quarter of the previous year. It also beat out analysts’ revenue estimate of $1.16 billion for the quarter.

Abercrombie & Fitch Co. also included its outlook for 2018 in its most recent earnings report. It is expecting revenue for the year to be up low-single digits from 2017’s $3.49 billion. Wall Street is estimating revenue of $3.46 billion for the full year of 2018.

ANF stock was up 13% as of Wednesday morning.

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/2018/03/abercrombie-fitch-co-posts-q4-earnings-beat/.

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