Guess? Stock Skyrockets on Q2 Earnings Beat

Guess? (NYSE:GES) ended its hump day on a high as the company reported its most recent quarterly earnings results late Wednesday, unveiling profit and revenue that were stronger than what analysts were calling for, sending shares soaring after hours.

Guess? StockThe clothing brand and retailer said that for its second quarter of fiscal 2018, it amassed a profit of $25.5 million. The Los Angeles-based company said that the figure reached 31 cents on a per-share basis.

Guess? added that its second-quarter earnings reached 36 cents per share when adjusted for one-time gains and costs. Wall Street was calling for the company to rake in earnings of 33 cents per share on an adjusted basis, according to a survey conducted by Zacks Investment Research that included projections from three analysts.

The company added that its revenue for the period increased by 13.7% year-over-year to $645.87 million from the $568.29 million it tallied up during its second quarter of fiscal 2017.

Guess? said that for its third quarter of the fiscal year, it sees its adjusted earnings as being in the range of 12 cents to 15 cents per share. For the fiscal year, it projects earnings in the range of 94 cents to $1.03 per share.

GES stock was up more than 10.3% after the bell on Wednesday following the company’s strong quarterly earnings showing, which included a profit beat and a year-over-year revenue increase. Shares were down almost 1% during regular trading hours in anticipation of the company’s quarterly report.


Article printed from InvestorPlace Media, https://investorplace.com/2018/08/guess-stock-ges/.

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