Signet Jewelers Ltd. Stock Soars on Q1 Earnings Beat

SIG beat EPS estimates by 19 cents

Signet Jewelers Ltd. (NYSE:SIG) stock was up on Wednesday following the release of its earnings report for the fiscal first quarter of 2019.

Signet Jewelers Ltd.’s earnings report for its fiscal first quarter of 2019 starts off strong with earnings per share of 10 cents. This is down from its earnings per share of $1.03 from the same time last year. Despite this, it is still a blessing to SIG stock by beating out Wall Street’s losses per share estimate of 9 cents for the period.

Signet Jewelers Ltd. also reported a net loss of $496.60 million for the fiscal first quarter of 2019. This isn’t as good as the company’s net income of $78.50 million that was reported in its fiscal first quarter of 2018.

During its fiscal first quarter of 2019, Signet Jewelers Ltd. reported an operating loss of $574.20 million. The jewelry company reported  operating income of $115.30 million in the same period of the year prior.

Signet Jewelers Ltd. also reported revenue of $1.48 billion for its fiscal first quarter of the year. This is is up from its revenue of $1.40 billion that was reported in its fiscal first quarter of the previous year. It was also a boon to SIG stock by coming in above analysts’ revenue estimate of $1.40 billion for the quarter.

Signet Jewelers Ltd.’s most recent earnings report also includes the company’s guidance for the fiscal full year of 2019. The company is expecting earnings per share ranging from $3.75 to $4.25 on revenue between $5.90 billion and $6.10 billion. Wall Street is looking for earnings per share of $3.96 on revenue of $6.03 billion for the year.

SIG stock was up 19% as of noon Wednesday.

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/2018/06/signet-jewelers-stock-up-on-q1-earnings/.

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