Ralph Lauren Corp (NYSE:RL) stock was soaring on Wednesday after reporting an earnings beat for its fiscal fourth quarter of 2018
Ralph Lauren Corp’s earnings report for its fiscal fourth quarter of the year starts off strong with earnings per share of 90 cents. This is up slightly from its earnings per share of 89 cents from the same time last year. It was also good news for RL stock by surpassing Wall Street’s earnings per share estimate of 83 cents for the period.
Net income reported by Ralph Lauren Corp for its fiscal fourth quarter of 2018 came in at $41.30 million. This is a great improvement over its net loss of $204.00 million from its fiscal fourth quarter of 2017.
During its fiscal fourth quarter of the year, Ralph Lauren Corp reported operating income of $25.40 million. The maker of luxury clothes for men, women and children reported an operating loss of $265.70 million in the same period of the year prior.
Ralph Lauren Corp also reported revenue of $1.53 billion for its fiscal fourth quarter of 2018. This is a down from its revenue of $1.57 billion that was reported in its fiscal fourth quarter of the previous year. However, it was still a blessing to RL stock by coming in above analysts’ revenue estimate of $1.48 billion for the quarter.
Ralph Lauren Corp provides its outlook for fiscal 2019 in its most recent earnings report. The company says that it is expecting revenue for the year to decrease in the low single-digits. Fiscal 2018 revenue was $6.18 billion. Wall Street is looking for fiscal 2019 revenue of $6.11 billion.
RL stock was up 15% as of noon Wednesday.
As of this writing, William White did not hold a position in any of the aforementioned securities.