Canada Goose Holdings Inc (NYSE:GOOS) stock was soaring on Friday following the release of its earnings report for its fiscal fourth quarter of 2018.
Canada Goose Holdings Inc reported earnings per share of 7 cents for its fiscal fourth quarter of the year. This is better than the company’s losses per share of 11 cents from the same time last year. It was also a boon to GOOS stock by coming in well above Wall Street’s losses per share estimate of 7 cents for the period.
Net income reported by Canada Goose Holdings Inc for its fiscal fourth quarter of 2018 came in at $6.14 million. This is an improvement of over its net loss of $17.77 million reported in its fiscal fourth quarter of 2017.
During its fiscal fourth quarter of the year, Canada Goose Holdings Inc reported operating income of $11.24 million. The company’s operating loss from the same period of the year prior was $21.69 million.
Canada Goose Holdings Inc also reported revenue of $94.66 million for its fiscal fourth quarter of 2018. This is up from its revenue of $51.10 million that was reported in its fiscal fourth quarter of the previous year. This is great news for GOOS stock by easily beating out analysts’ revenue estimate of $50.30 million for the quarter.
The most recent earnings report from Canada Goose Holdings Inc also includes its outlook for fiscal 2019. The company says that it is expecting revenue for the year to increase by at least 20% while earnings per share go by up by at least 25%.
GOOS stock was up 25% as of Friday afternoon and is up 44% year-to-date.
As of this writing, William White did not hold a position in any of the aforementioned securities.