Shoe Carnival (NASDAQ:SCVL) stock was going the distance on Wednesday after releasing its earnings report for the second quarter of 2018.
Shoe Carnival reported earnings per share of 72 cents during the second quarter of the year. This is a massive improvement over its earnings per share of 24 cents from the same time last year. It was also great news for SCVL stock by easily beating out Wall Street’s earnings per share estimate of 62 cents for the quarter.
Net income reported by Shoe Carnival for the second quarter of 2018 came in at $11.78 million. This is an increase over the shoe retailer’s net income of $3.90 million that was reported in the second quarter of 2017.
During the second quarter of the year, Shoe Carnival reported operating income of $14.93 million. The company’s operating income from the same period of the year prior was $6.42 million.
Shoe Carnival’s revenue for the second quarter of 2018 was $268.37 million. This is better than the company’s revenue of $325.06 million that was reported in the second quarter of the previous year. It was also a boon to SCVL stock by coming in above analysts’ revenue estimate of $259.77 million for the period.
Shoe Carnival also took time in its most recent earnings report to update its outlook for the full year of 2018. The company now expects earnings per share of $2.07 to $2.15 on revenue between $1.016 billion to $1.020 billion. Wall Street is looking for earnings per share of $2.05 on revenue of $1.02 billion for the year.
SCVL stock was up 13% as of Wednesday afternoon and is up 36% year-to-date.
As of this writing, William White did not hold a position in any of the aforementioned securities.
